Lowe's closing stores: Is yours on the list?

Lowe's announces it's closing 20 stores. Home-improvement chain also says it will open far fewer Lowe's stories beginning next year.

By

  • close
    Information that Lowe's closed its store in Biddford, Maine, is taped on the outside window on Oct. 17, 2011.Home-improvement retailer Lowe's Cos. said Monday it will close 20 underperforming stores in 15 states and cut 1,950 jobs in order to focus on more profitable locations.
    View Caption

Home-improvement retailer Lowe's Cos. says it will close 20 underperforming stores in 15 states and cut 1,950 jobs in a move that it says will allow it to focus on more profitable locations.

Ten locations were closed Sunday; the other 10 will close in a month.

Before the closures Lowe's operated 1,725 stores.

Recommended: Business

Lowe's, based in Mooresville, N.C., also says it will only open 10 to 15 stores in North America annually beginning in 2012. Previously the company expected to open 30 stores per year. It will open 25 stores this year.

Lowe's says the moves will cost it 17 cents to 20 cents per share in 2011.

In August, Lowe's said volatile weather and shoppers' worries about the economy hurt demand. Its net income was nearly flat in the second quarter and the company lowered its yearly sales forecast.

Here are the stores set to be closed:

CALIFORNIA

Los Banos

Westminster

COLORADO

Denver

ILLINOIS

Aurora

Oswego

LOUISIANA

Chalmette

MAINE

Biddeford

Ellsworth

MASSACHUSETTS

Haverhill

MICHIGAN

Ionia

MINNESOTA

Rogers

NEW HAMPSHIRE

Claremont

Hooksett

Manchester

NEW JERSEY

Old Bridge

NEW YORK

Batavia

RHODE ISALND

N. Kingstown

VIRGINIA

Emporia

WASHINGTON

S. Tacoma

WISCONSIN

Brown Deer

Share this story:

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...