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RSS FeedsLowe´s is closing 34 Canadian stores, including five in the GTA
(The Star Travel)

 
 

20 november 2019 22:55:39

 
Lowe´s is closing 34 Canadian stores, including five in the GTA
(The Star Travel)
 


Lowe´s Inc. says it will close 34 `underperforming` stores in Canada operating under the Rona, Lowe´s and RĂ©no-DĂ©pĂ´t names. The closures will start in January and include both the Lowe´s Etobicoke outlet and a Rona store in Mississauga, along with stores in Aurora, Oshawa and Ajax.Twenty-six of the stores slated for closure operate under the Rona name, part of the home improvement chain founded in Quebec 80 years ago and acquired by Lowe´s in 2016 for $3.2 billion.The company said the closures are part of a restructuring that will simplify a complex mix of multiple retail brands, but did not disclose the number of staff that will be affected, saying some employees may be offered the opportunity to transfer to a nearby store.Lowe´s has more than 28,000 employees in Canada, while its independent affiliate dealers operating under the Rona and Ace names have another 5,000 employees. The Lowe´s Etobicoke store has 123 staff members while the Rona Mississauga location employs 16.The closures, announced with Lowe´s third-quarter earnings Wednesday, add to the 31 Canadian locations Lowe´s shuttered at this time last year. The Canadian division of Lowe´s currently has more than 600 stores, including 67 stores operating under the Lowe´s banner, more than 400 Rona outlets, 21 RĂ©no-DĂ©pĂ´t outlets and 100 stores under other banners.More than a third of the latest closures are in Quebec, where 12 stores are affected. Nine stores will be closed in Ontario, six in Alberta, three in Nova Scotia, three in British Columbia, and one in Saskatchewan.`Closing underperforming stores is a necessary step in our plan to ensure the long-term stability and growth of our Canadian business,` Tony Cioffi, interim president of Lowe´s Canada, said in a statement.The restructuring also includes investments in supply chain capabilities, web platforms, existing corporate stores and an affiliated dealer network. The company on a conference call with analysts s ...


 
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