It was recently announced that Lowe’s is closing all of its stores in Canada. This is big news, as Lowe’s is a major home improvement retailer. Many people are wondering if this means that Lowe’s is also closing its stores in the United States.
The answer is no, Lowe’s is not currently planning on closing any of its stores in the United States. The company has said that the decision to close its Canadian stores was due to “unexpected challenges” in the Canadian market. Lowe’s has been struggling to compete with other home improvement retailers in Canada, such as Home Depot and Rona.
Lowe’s first opened its doors in Canada in 2007 and has since been trying to expand its presence in the country. However, it has been difficult for the company to gain market share due to intense competition. The closure of Lowe’s Canadian stores will result in the loss of approximately 2,400 jobs.
This is certainly disappointing news for those who are employed at Lowe’s Canada. However, it is important to remember that Lowe’s is not closing all of its stores. The company still has a strong presence in the United States and other countries around the world.