Lowe's Canada closing 34 underperforming stores, including two Rona's in Durham Region


"We're not going to give it away this year", Lowe's president and CEO Marvin Ellison said on the company's third-quarter earnings call Wednesday.

The company plans to move its Canadian information technology platform to the U.S.

Lowe's could attract more "regular shoppers" by distinguishing itself from Home Depot, he added, stressing "the softer side of home improvement".

Lowe's bought Rona in 2016 in a deal valued at $3.2 billion.

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Lowe's Canada will begin simplifying multiple store banners to be more efficient, reorganizing corporate supports across Canada to better support customer needs and offering Canadian customers a better assortment of products.

"The strategy does not work, because if you're always playing on cost and you're not playing on quality, availability or service, you'll lose the client", said Gilles LeVasseur, professor of business and law at the University of Ottawa. To see the exact store locations and closure dates, go here. He added the home-improvement retailer a year ago offered a lot of site-wide promotions that "gave a lot of value to the customers", but "little value to the shareholders and to the company from a profit perspective".

Lowe's remains in the midst of a catch-up period against chief competitor Home Depot "after underperforming for several years", said Elizabeth Suzuki, an analyst at Bank of America Merrill Lynch.

Stores impacted include nine in Ontario, 12 in Quebec, six in Alberta, three in British Columbia and Nova Scotia and one in Saskatchewan.

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In November 2018, Lowe's Canada also announced it would be closing more than 30 stores across the country.

Some employees could also be eligible to transfer to nearby stores that will stay open.

It is unknown at this time how many employees in Brockville will be affected by this closure.

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