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Lowes closes below-average trades in the US and Canada



The home improvement retailer Lowe & # 39; s closing below-average deals in the United States and 31 in Canada as part of a restructuring deal, the home improvement retailer said Monday.

Lowe's lagging behind in Home Depot sales for years is In the midst of turnaround under the new Chief Executive Officer Marvin Ellison, who has pledged to remove low-heeled products and end unsuccessful ventures.

The Company is already closing its 99 stores for Orchard Supply, earning between $ 390 million and $ 300 million in write-downs of $ 475 million.

Lowes, which operates more than 2,000 stores in North America, said the most recent store closures will be completed in February.

"Branch closures are a necessary step for our strategic revaluation as we focus on building stronger business," Ellison said in a statement.

Lowes stores in US states including New York, Texas and California as well as Rona stores in Ontario, British Columbia and other Canadian provinces Lowes said the lawyers had been closed.

Lowe's bought Rona, Canada's largest home improvement retailer, in 201

6 for about $ 2 billion, increasing the country's 40 stores by 700.


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