Lowe's Companies said it will close 51 stores in the United States and Canada, the latest national retailer to shed its brick and mortar locations amid increasing e-commerce competition.
In addition to the 20 US closings, the news release stated Lowe's will close 31 Canadian stores.
A list of impacted stores may be found on Lowe's newsroom.
The stores that will close include Rona on Barrydowne Road in Sudbury, as well as a Rona and Lowe's in Sault Ste. The company will try to find jobs at nearby stores for its employees affected by the closings. Earlier this year, Lowe's reduced inventory at its stores, and closed all of its Orchard Supply Hardware stores, a California-based subsidiary. The wind-down of the OSH chain is expected to be completed by February.
MOORESVILLE, N.C. - Lowe's Companies, Inc.
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Among the 27 stores set to close by the end of January are nine in Ontario, nine in Quebec, six in Newfoundland and Labrador, two in Alberta and one in British Columbia.
Marvin Ellison, the new CEO, previously said he wants to focus more on improving core retail areas and increasing online sales.
In a release, the company states most of the impacted stores are within 16 kilometres of another Lowe's store.
The list of other US stores closing include locations in Alabama, California, Connecticut, Indiana, Louisiana, Massachusetts, Michigan, Minnesota, New York, Pennsylvania and Texas. Its next earnings report is on November 20. Northbrook-based Hilco Merchant Services will help manage the store closing process.