Lowes has announced that they will be closing 20 underperforming stores in 5 states. Ten of these locations have already closed, with the remaining stores closing within a month. In addition to this, Lowes will slow down the rate at which they open new stores from ~30 stores per year to 10-15. Nearly 2000 employees will lose their jobs as a direct result of the store closings.
Lowes Store Closings
Los Banos, CA
Westminster, CA
Denver, CO
Aurora, IL
Oswego, IL
Chalmette, LA
Haverhill, MA
Biddeford, ME
Ellsworth, ME
Ionia, MI
Rogers, MN
Claremont, NH
Hooksett, NH
Manchester, NH
Old Bridge, NJ
Batavia, NY
N. Kingstown, RI
Emporia, VA
S. Tacoma, WA
Brown Deer, WI
2 of these stores were opened before 2006, 8 between 2006 and 2007, and 10 were opened after 2007. These stores must have been hemorrhaging money for Lowes’ top brass to shut them down just ahead of the winter holidays. On the other hand, nearby stores will probably see a boost in revenue as additional customers flock through their doors.
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rob
The Los Banos store they’re closing always seemed a bit odd to me. It was by itself in an area that never really developed. It’s on a highway between I5 and Hwy99. A few years ago they closed a fair amount of our local Home Depots in the failed Yardbirds purchase by Home Depot. They tried to reopen the stores under a Yardbirds/Home Depot branding but it failed, partly because they wanted to focus on selling appliances and kitchen remodels. I will say when the stores had their “store closing” sales…………there was some GREAT deals to be had. So if you live near one of the closing Lowes stores I’d be ready for some great deals to be had!