Lowe's Store Closings Are Happening In 6 Provinces In 2020

Lowe's raises profit forecast shares gain

A Lowe's retail store is shown in Carlsbad CaliforniaMore

Lowe's Canada announced it will be closing 34 of its stores across Canada, including its location in Regina's Northgate Mall.

The store closures will take place in British Columbia, Alberta, Saskatchewan, Ontario, Quebec and Nova Scotia.

Eligible employees will be offered the opportunity to transfer to a nearby store.

"We're not going to give it away this year", Lowe's president and CEO Marvin Ellison said on the company's third-quarter earnings call Wednesday.

North Carolina-based Lowe's bought Rona in 2016 in a deal valued at $3.2 billion. Lowe's will also reorganize the corporate structure across Canada "to more efficiently serve stores".

The closures will affect 26 RONA locations, six Lowe's stores and two Reno-Depot brands.

"We are taking decisive action to build a healthy business which will provide us with the flexibility to reinvest in our future growth".

In November 2018, Lowe's Canada also announced it would be closing more than 30 stores across the country.

When it first opened, store manager Paolo Gallo said about 140 employees worked at the new store, including full-time, part-time and seasonal employees.

Ad Standards, the advertising industry's self-regulatory body, said earlier this month that the company should stop using the phrases "truly Canadian" and "proudly Canadian" on its store signs as they were misleading.

"Our objective continues to be providing our Canadian customers with the right products and the best service and value across every channel, for the long term", said Cioffi.

Lowe's did not say how many staff would be affected by the latest round of closures, which will see stores close in January and February.

Latest News