In another sign of retail time, Lowe & # 39; s closes 47 North American stores.
Lowes said on Monday that these locations are below average and the decision of the hardware chain will help them focus on their most profitable stores.
"Closing deals is a necessary step in our strategic revaluation as we focus on building a stronger business," said Chief Executive Officer Marvin Ellison in a statement.
Retail stores are struggling to adapt to the rapid growth of online shopping, especially Amazon (AMZN). Many successful retailers with big stores have adapted their business strategies to better use their physical spaces. Others, including Sears, Kmart and Toys "R" Us, failed.
Lowe & # 39; s and its rival Home Depot have proven to be largely Amazon-proof as Amazon does not sell any timber or other heavy, bulky home improvement products. [1
Earlier this year, Lowe's gave a home improvement veteran the lead to turn the company over. Ellison has been a top executive home repository for more than a decade and most recently served as CEO of JCPenney (JCP).
Ellison has already made some key strategic decisions, including closing all Orchard Supply hardware stores and reducing inventories Lowe's businesses.
He believes the improvement of tools and equipment, additional discounts and better customer service is the goal of Lowe's improvement by targeting professional builders and contractors. According to the Wedbush Securities analysts, home professional sales account for about 45% of Home Depot's revenue, but only about 30% of Lowe's revenue.
Lowe's (LOW) will close 20 stores in the United States and 27 in the US Canada. The company said a "majority" of stores are within 10 miles of another Lowe location. In addition, four offices and specialized facilities will be closed in Canada.
The shops are closed before 1 February 2019. The company will try to find jobs for its closure-affected employees in nearby stores.
Lowe & # 39; s said these deals would be closed:
1100 Bankhead Hwy SW, Graysville
26501 Aliso Creek Rd, Aliso Viejo
13300 Jamboree Rd, Irvine
720 Dubuque Ave, South San Francisco
750 Newhall Dr, San Jose
48 Boston Post Rd, Orange
1333 Schaefer Rd, Granite City
7735 Grand Ave, Gurnee
6221 US Highway 6, Portage
19659002] 5770 Read Blvd, New Orleans
599 Thomas Burgin Pkwy, Quincy
4274 E Court Street, Burton 19659002] 2100 TA Mansour Blvd, Flint
2015 Bassett Dr, Mankato
11974 Paul Mayer Ave, Bridgeton
3180 N [NewYork
2008 Broadway, New York
635-641 6th Ave, New York
250 South Conestoga Dr, Shippensburg  Texas
3500 W Airport Fwy, Irving
(Rona) 105-1015 Columbia Street, New Westminster
(Rona) 11520 – 24th Street SE, Calgary
(Reno Depot) 12330 Symons Valley Road NW, Calgary
1133 Dundas Street West, Mississauga
1692 Lakeshore Rd, Mississauga
132 Black Road, Sault Ste. Marie
943 Barry Downe Road, Sudbury
1575 Chemong Road, Peterborough
1452 Bath Road, Kingston
178 Waterway, Lakefield
Lowe's  6600 Yonge Street, North York
248 Northern Avenue, Sault Ste. Marie
335, Route 209, Sainte-Clotilde-de-Chateauguay
870, Boulevard d'Iberville, Saint -Jean-sur-Richelieu
723, Boulevard L & # 39; Ange-Gardien, L 'Assomption
788, Rue Moeller, Grandby
134, Boulevard Sainte-Rose, Laval
9200, Boulevard Maurice-Duplessis, Montréal
1200, Rue Mantha, Rouyn-Noranda
194, rue Principale, Ange-Gardien
100, rue du Parc Industriel, Saint Elzéar
Newfoundland  Rona:
825 Conception Bay Highway, Conception Bay
53-59 Main Street, Goulds
1297 Topsail Road, St. John's
60 O'Leary Avenue, St John's
710 Torbay Road, St. John's
239 Conception Bay, Bay Roberts
Correction: In an earlier version of this story, it was incorrectly stated how many businesses closed Lowes plans intend.
Nathaniel Meyersohn contributed to this camp at y