In Regina, the Grassland Lowe's location will remain open, which could become a home for some of the employees at the north location. The company said that some eligible employees will be able to transfer to nearby locations when their store closes.
The stores include 26 Ronas, six Lowe's and two Reno-Depots spread across British Columbia, Alberta, Saskatchewan, Ontario, Quebec, and Nova Scotia. The B.C. closures include stores in Osoyoos, Prince George and the Newton area of Surrey.
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"Closing underperforming stores is a necessary step in our plan to ensure the long-term stability and growth of our Canadian business,” said Tony Cioffi, interim president of Lowe's Canada in a statement.
5h ago Lowes to shutter 34 stores across Canada beginning in January Nicole Gibillini, BNN Bloomberg
Lowes Canada will close 34 underperforming stores, including 26 Rona locations, the company said Wednesday.
Lowes is closing 34 underperforming stores in Canada, including 26 Ronas
“While making decisions that impact our associates and their families is never easy, closing underperforming stores is a necessary step in our plan to ensure the long-term stability and growth of our Canadian business,” said Tony Cioffi, interim president of Lowes Canada, in a release.
Lowes has announced that 34 "underperforming stores" will be shut down in the near future. They include the RONA Home and Garden on Pinebush Road in Cambridge, which will be closed by the end of January.
“We are taking decisive action to build a healthy business which will provide us with the flexibility to reinvest in our future growth. This includes having a clear strategy for our banners, built on the strength of our Lowes, RONA and Reno-Depot brands.
In 2015 Lowe's submitted an initial site plan with the city to build a store between 10,500 and 14,500 square feet located at 129 Elmira Road. S.
Lowes, which acquired Quebec-based Rona Inc. in 2016 in a deal valued at about $3.2 billion, said eligible employees affected by the closures will be offered the chance to transfer to a nearby store.
Brockville Rona to close
Often when you see these major acquisitions – with [Lowes] buying out Rona a few years ago – you start to see this, said Ryan Lewenza, senior VP and portfolio manager at Turner Investments, on BNN Bloomberg. They start to close some of the underperforming branches and assets. So not a big surprise. What Im more focused on is: is this a bigger trend?
In a statement, Lowe's Canada interim president Tony Cioffi said the affected stores were "underperforming," and that the closures were a "necessary step" to ensure the long-term viability of the business.
Mississauga Lowes one of 34 stores closing across Canada
Its not the first time the company has announced mass store closures in this country. In November 2018, Lowes said it would shutter 31 Canadian locations by Feb. 1, 2019. And the closures are a dramatic departure from the optimistic tone from the CEO of Rona who presided over the retailers takeover by Lowes in 2016.
Local area not hit by closures
“I am confident that Rona will be in good hands as part of Lowes and will have new opportunities and resources to grow its brands and build upon its heritage, providing Canadians with trusted products and advice to build and renovate their homes in total confidence,” said Robert Sawyer in a release on May 20, 2016.
“This is an excellent next step for our people, our partners, our customers and our former shareholders.”
Lowes has more than 600 corporate and independent affiliate stores under the Lowes, Rona, Reno-Depot, Ace and Dicks Lumber brands in Canada, and seven distribution centres.
Cambridge RONA among 34 stores to close across Canada
-Lowes Prince George 2999 Massey Drive. Closing Feb. 19, 2020 -RONA Surrey (Newton) 6965 King George Boulevard. Closing Jan. 31, 2020 -RONA Osoyoos 6014-51 Street. Closing Jan. 31, 2020
RONA in Cambridge among many closing in 2020
-Lowes Calgary – Shawnessy 295 Shawville Boulevard S.E. Closing Feb. 19, 2020 -RONA Airdrie 2649 Main Street South. Closing Jan. 31, 2020 -RONA Calgary (Midnapore) 14815 Bannister Road S.E. Closing Jan. 31, 2020 -RONA St. Albert 730 St. Albert Trail, St. Albert. Closing Jan. 31, 2020 -RONA Sherwood Park 340 Baseline Road, Sherwood Park. Closing Jan. 31, 2020 -RONA Edmonton (Ellerslie Road) 1003 Parsons Road S.W., Edmonton. Closing Jan. 31, 2020
Lowes to close 34 stores across six provinces, including 3 in Nova Scotia
-Lowes Etobicoke – North 48 Lowes Place. Closing Jan. 31,2020 -Lowes Thunder Bay 1000 Fort William Road. Closing Jan. 31, 2020 -Lowes Cornwall 950 Brookdale Avenue. Closing Jan. 31, 2020 -RONA Brockville 550 Stewart Boulevard.. Closing Jan. 31, 2020 -Home & Garden RONA – Cambridge 66 Pinebush Road. Jan. 31,2020 -RONA Mississauga (Rockwood 4141 Dixie Road. Closing Jan. 31, 2020 -Reno-Depot Aurora 140 First Commerce Drive. Closing Jan. 31, 2020 -RONA Oshawa 1279 Simcoe Street North. Closing Jan. 31, 2020 -RONA Ajax 19 Notion Road. Closing Jan, 31, 2020
-RONA Granby 316 rue Denison Est.Closing Jan. 31, 2020 -RONA Sorel 1293 chemin des Patriotes. Closing Jan. 31, 2020 -RONA Bécancour 3365 boulevard Bécancour. Closing Jan. 31, Bécancour 2020 -RONA Nicolet 2145 boulevard Louis-Fréchette. Closing Jan.31, 2020 -RONA Saint-Tite 700 rue Notre-Dame. Closing Jan. 31, 2020 -RONA Trois-Rivières 15 rue Philippe-Francoeur. Closing Jan. 31, 2020 -RONA Saint-Félix-de-Valois 3110 rue Henri-L. Chevrette. Closing Jan. 31, 2020 -RONA Carignan 2395 chemin de Chambly. Closing Jan. 31, 2020 -RONA Saint-Lambert 707 rue Saint-Charles. Closing Jan. 31, 2020 -RONA Saint-Sauveur 180 rue Principale. Closing Jan. 31, 2020 -RONA Bellefeuille – 905 boulevard de la Salette. Closing Jan. 31, 2020 -Réno-Dépôt Trois-Rivières 4575 boulevard des Forges. Closing Jan. 31, 2020
-RONA Dartmouth, 500 Windmill Road. Closing Feb. 19, 2020 -RONA Dartmouth, 1000 Cole Harbour Road. Closing Feb.19, 2020 -RONA Bedford 1658 Bedford Place Mall. Closing Feb. 19, 2020
The company announced its plans to close 34 “under-performing” stores in Canada “to improve future sales performance and profitability.”