Lowe's to close 31 stores across Canada

Lowe's to close 31 stores across Canada

In a release, the company said the locations are underperforming.

Lowe's announced early Monday morning the closing of 20 under performing stores throughout the part of the company's "ongoing strategic reassessment". Marie, the Rona on Black Road and the Lowe's on Northern Avenue will also be shut down.

Lowe's is closing 51 underperforming stores across the US and Canada. None of the USA stores to close are in the Carolinas, according to the list posted on Lowe's website. Most associates at these stores will be extended opportunities to transition to a similar role at a nearby Lowe's store.

The store closures are expected to have a financial impact of 28-34 cents per diluted share, Lowe's said.

Close 31 Canadian stores and other locations.

To facilitate an orderly wind-down, the company intends to conduct store closing sales for most of the impacted locations with the exception of select stores in the US, which will close immediately.

Lowe's on Thomas Burgin Parkway in Quincy is one of 20 underperforming stores the home improvement chain announced this morning it will close by February 1 across the United States.

The U.S. retailer acquired Rona Canada in 2016 in a deal valued at $3.2 billion.