Lowes To Close 50+ Stores Over Next Month

Home improvement chain Lowe's will be closing 51 North American stores.

The chain said Monday that locations are underperforming. They believe that the decision will help them focus on their most profitable stores and "improve the overall health of its store portfolio."

The company said that a "majority" of the shuttered stores are within 10 miles of another Lowe's location.

The stores will be closed before Feb. 1, 2019. The company will try to find jobs at nearby stores for its employees affected by the closings.

Earlier this year, Lowe's gave the reins to a home improvement veteran to turn around the company. Ellison was a top executive Home Depot for more than a decade, and most recently served as JCPenney's CEO.

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