Lowe’s Will Close 20 US Stores, Montana Not Impacted
Lowe’s Companies, Inc. is announcing that certain underperforming store locations will be closed as part of a shift in strategy.
To focus on the company's more profitable locations, Lowe's will close 20 U.S. stores.
Lowe's operates five stores in Montana, which includes locations in Billings, Bozeman, Helena, Kalispell and Missoula. According to the company, none of those outlets will be impacted.
Lowe's indicates that "the majority of impacted stores are located within 10 miles of another Lowe’s store."
“While decisions that impact our associates are never easy, the store closures are a necessary step in our strategic reassessment as we focus on building a stronger business,” said Marvin R. Ellison, Lowe’s president and CEO in a news release. “We believe our people are the foundation of our business and essential to our future growth, and we are making every effort to transition impacted associates to nearby Lowe’s stores.”
The company announced that 31 stores in Canada will close as well.
Lowe’s expects to close the impacted locations by the end of the 2018 fiscal year (Feb. 1, 2019).