Lowe's shuttering 20 stores, to show opening pace
October 17, 2011-- Home Textiles Today,
Mooresville, N.C - Lowe's is closing 20 underperforming stores in 15 states and said it will open 10-15 North American stores per year going forward as opposed to a previous pace of about 30 openings annually.
Ten of the targeted locations are OOB as of today; the remainder will shut down in roughly a month.
The company will open roughly 25 new stores this fiscal year.
The closings are taking place in California, Colorado, Illinois, Louisiana, Massachusetts, Maine, Michigan, Minnesota, New Hampshire, New Jersey, New York, Rhode Island, Virginia, Washington and Wisconsin.
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