Saturday, 07 December, 2019

Lowe's to close store in Regina's Northgate Mall

Lowe's raises profit forecast shares gain A Lowe's retail store is shown in Carlsbad CaliforniaMore
Irene Mckinney | 21 November, 2019, 00:31

Lowe's called the 34 stores "underperforming" and said the decision to close them was made to "optimize its network".

In a release, Lowe's Canada - which also owns RONA - said the 34 stores slated to close were under performing.

Lowe's will also leverage its partnership with the National Football League by offering the first 300 in-store customers at every US location on Black Friday the opportunity to win two tickets to Super Bowl 54 in Miami.

Lowe's bought Rona in 2016 in a deal valued at $3.2 billion.

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.

Lowe's Canada said it will help all employees through the changes and transitions that come with their store closing.

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Lowe's Canada will begin simplifying multiple store banners to be more efficient, reorganizing corporate supports across Canada to better support customer needs and offering Canadian customers a better assortment of products.

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

More than one-third of the closures will be in Quebec, with Rona stores comprising 11 of the 12 shutdowns there.

Paulo Gallo, Store manager (left) and Jeff Boyd, V.P. of real estate, construction and store design for Lowe's Canada (right) hold a board as MLA Laura Ross does a ceremonial board cutting at the grand opening of Lowe's second Regina store in the Northgate Mall.

The home improvement retailer did not say how many retail staff would be affected by the latest round of closures, which will see stores windup in January and February.

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