According to the announcement, the closures will affect 20 stores in the United States and 31 stores in Canada, the majority of which are within 10 miles of another Lowe's location, in an effort to lead a turnaround for the company, which has been trailing competitor Home Depot for years.
Lowe's on Thomas Burgin Parkway in Quincy is the only store in MA impacted by the closures.
There are also signs that Americans are spending less on housing as prices and demand peak after a seven-year homebuilding spree, although numerous factors underlying the industry's health remain in place. Ellison, who joined the company in May, has already made some big strategic decisions, including closing all of its Orchard Supply Hardware stores and slashing inventory at its Lowe's stores. "We plan to continue to evaluate all businesses and elements of our portfolio annually", the company told Reuters.
Hilco Merchant Services has partnered with the retailer to help manage the process in the U.S.
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National Weather Service had earlier warned of thunderstorms in the area, with some producing gusty winds and heavy rain. Fire department chief Roman Clark told the Baltimore Sun that a 15-metre wall collapsed as a storm hit the area.
Lowe's said is expects to close the impacted stores by the end of the company's 2018 fiscal year - February 1, 2019.
The stores off Corunna Road in Flint Township and Court Street in Burton are among twenty underperforming locations across the USA being shut down.
Ellison has also initiated some major shakeups in the company's executive leadership ranks. The company will try to find jobs at nearby stores for its employees affected by the closings.
Shares in the company were flat.