Lowe’s Canadian closings come at a cost

MOORESVILLE, N.C. ― The strategic reassessment revealed by Lowe’s Cos. in its latest quarterly results report resulted in $280 million in pre-tax charges. The charges included $121 million related to the closing of 20 under-performing stores in the U.S. and 31 locations in Canada, including 27 retail outlets.

Another $123 million was associated with the company’s decision to close all its Orchard Supply Hardware locations in the U.S. Lowe’s is also exiting the Mexico market, where it has 13 stores, at a cost of $22 million. These charges were incurred to improve Lowe’s financial returns and to “allow the organization to focus on the key drivers of long-term value creation.”

https://hardlines.ca/wp-content/themes/hardlines-responsive