Published: Mon, November 05, 2018
Business | By Eloise Houston

Lowe's shutting down RONA store on Barrydowne

Lowe's shutting down RONA store on Barrydowne

Lowe's is closing 51 of its home improvement stores, including 30 in Canada, the company said Monday.

To facilitate an orderly wind-down, the company intends to conduct store closing sales for most of the impacted locations with the exception of select stores in the US, which will close immediately.

The company will wind down operations at 20 US locations and 31 Canadian stores by the end of its 2018 fiscal year, which ends February 1, 2019. None of the US stores to close are in the Carolinas, according to the list posted on Lowe's website.

It's unclear how many total workers are affected. The majority of impacted stores are located within 10 miles of another Lowe's store.

The home improvement company is not the only retailer to close its doors in recent months. Lowe's reports financial results Wednesday, Nov. 16.

Lowe's Canadian business is based in Boucherville, Que. and has more than 630 corporate and independent affiliate dealer stores.

Under Ellison, the company has also eliminated four senior positions, while creating two new senior roles for stores and supply chain.

Last week, for instance, Lowe's hired Seemantini Godbole, Target's senior vice president of digital and marketing technology, as its new chief information officer.

E-commerce giants including Amazon Inc. have also posed a threat because of their efficiency, but Soberman said their impact on Lowe's is limited because many construction and do-it-yourself products are bulky, heavy and cost more to ship - "not things that are suited to online retail".

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