Sunday, November 19, 2017
 
 
News: Page (1) of 1 - 10/17/11 Email this story to a friend. email article Print this page (Article printing at MyDmn.com).print page facebook
Lowe's to close 20 stores
Lowe's will close 20 stores, cut 1,950 jobs, plans to open fewer stores
By The Associated Press

MOORESVILLE, N.C. (AP) ' 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.



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.

.


Page: 1


 
 
 
 
 
 
 
 
 
 
 





Our Privacy Policy --- About The U.S. Daily News - Contact Us - Advertise With Us - Privacy Guidelines