MOORESVILLE, N.C. (FOX 35 WOFL) - Lowe's Companies, Inc. announced on Monday that they will close 51 locations as part of its ongoing strategic reassessment.
The company says that closing these locations will allow them to focus on their most profitable stores and improve overall health of its store portfolio. Most associates at these locations will be extended opportunities to transition into a similar role at a nearby Lowe's location.
"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. "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 closures are expected by the end of the company's 2018 fiscal year, February 1st, 2019. Closing sales will reportedly be conducted for most of the impacted locations.
20 of the 51 closing Lowe's locations are located in America. See a full list of the stores closing below.