Lowes closes stores

[Floorist]

MOORESVILLE, N.C. — Home-improvement retailer Lowe's Cos. says it will close 20 underperforming stores in 15 states and cut 1,950 jobs in a move that it says will allow it to focus on more profitable locations.

Ten locations were closed Sunday; the other 10 will close in a month.

Before the closures Lowe's operated 1,725 stores.

Lowe's, based in Mooresville, N.C., also says it will only open 10 to 15 stores in North America annually beginning in 2012. Previously the company expected to open 30 stores per year. It will open 25 stores this year.

Lowe's says the moves will cost it 17 cents to 20 cents per share in 2011.

In August, Lowe's said volatile weather and shoppers' worries about the economy hurt demand. Its net income was nearly flat in the second quarter and the company lowered its yearly sales forecast.

 

[Ernesto]

I heard that today. I hope they're not closing the one nearest me. I'd rather go there than HD.

 

[highup]

I wonder which stores they are closing. We live in a pretty small town. Lowe's here is awful. No help.

This a true story, we went there to buy roof sealer for flashing we were installing. We had a couple of choices and needed some advice, we asked and they said "let us get our expert". Some fat guy walks over, reads the back of the bucket and says "well this one says it's a sealer". Really? They both do but your expertise is based on the fact that you can read?

We have a local True Value retailer here in town. The store is called Farrs and it's been here since long before I was born.
It's a good old home town store. They have another store 16 miles away which comes in handy. http://www.hardwareking.com/aboutus.aspx

Not bein sexist here, but the ladies can answer you questions as well as the guys in most cases. I think they have 5 ladies employed there working on the floor, plus a couple in the office. Come to think of it there only 4 men usually there. I guess the women have to do all the work.
All of them can work the till or make keys too.
....or the pop corn.

They don't carry lumber and plywood, but they do carry what others don't.... number, letter, and reverse cutting drills, nylon nuts screws and washers, metric, roll pins bronze bushings..... The nut and bolt section are a real mans dream aisles.
I think there ought to be a Farrs True Value in every town.

Who has closed the most stores? I am betting HD?
I'm betting HD started closing stores a lot earlier than Lowes.
I've only been in two Lowe's stores, but I like em a lot.

 

[Floorist]

The last time I was on a HD, I was looking for some supplies. Their flooring "expert" did not know the difference between wood and concrete strip and didn't even know where some of their supplies were located. They did have a good selection of flooring hand tools.

 

[Nick]

I wonder which stores they are closing. We live in a pretty small town. Lowe's here is awful. No help.

This a true story, we went there to buy roof sealer for flashing we were installing. We had a couple of choices and needed some advice, we asked and they said "let us get our expert". Some fat guy walks over, reads the back of the bucket and says "well this one says it's a sealer". Really? They both do but your expertise is based on the fact that you can read?

Same thing here .

 

[Ernesto]

I like my local Ace hardware store/snd would prefer to go there more so than a box store. But Ace and Truevalue are not your old town hardware stores even though they are generally locally owned.

 

[Floorist]

Our last old time hardware store closed a few months ago. It is missed.

 

[highup]

I like my local Ace hardware store/snd would prefer to go there more so than a box store. But Ace and Truevalue are not your old town hardware stores even though they are generally locally owned.

Speak for yourself bucko ............same ownership here since 1916 and the trend WILL continue.
Every year on my Birthday they send me a $10 account credit.
Dremel tool cutoff wheels this year. oh yea..........

 

[DarisMulkin]

We have a Ace here in town and that is the place to go for me on hardware. The salesmen/women are all very knowledgeable and friendly. The first time I went in they remembered my name after that.
As the commercial says " Ace is the place."

Daris