Rona and Lowe's stores to close in northeastern Ontario
05 November, 2018, 23:46 | Author: Sara Gill
Lowe's said is expects to close the impacted stores by the end of the company's 2018 fiscal year - February 1, 2019.
Home improvement retailer Lowe's is closing more than 50 underperforming stores as part of an "ongoing strategic reassessment", the retailer announced in a statement on Monday.
Lowe's bought Rona, Canada's biggest home improvement chain, in 2016 for about $2 billion, adding about 700 stores to its 40 in the country.
However, customers still shop online for truck delivery or parcel shipping, or place a pick-up order for another location. Customers can find more answers to questions about closing stores here. In July, Lowe's received approval to move into a 110,000-square-foot space at a shopping center in Queens.
The company says some of the affected workers will be offered positions at other Lowe's stores.
"We believe our people are the foundation of our business and essential to our future growth", said CEO Marvin R. Ellison. Marie.as well as a relatively new Lowe's location in the Soo is set to close as the company focuses on its most profitable stores to improve the overall health of its store portfolio, it said in a news release.
"In this transformation, we're going to focus on retail fundamentals first, and concurrently we're going to modernize this company from. a digital and IT perspective and from a supply chain perspective, and we're going to create a truly great company", Ellison said.
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