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Lowe's Store Closings With 1,950 Job Losses Not Worthy
NewsBusters ^ | 17 Oct 2011 | Tom Blumer

Posted on 10/17/2011 12:13:01 PM PDT by mandaladon

It's a good thing I heard this on the radio at about 11:00 a.m., because I might otherwise have missed it. With yours truly's opinion along for the ride, I'll let readers judge whether the news of the Lowe's home improvement chain announcing that it will close 20 stores and cut its new store opening plans by one-half to two-thirds deserved to be in the top ten business stories at the Associated Press as of 12:52 p.m.

Lowe's to close 20 stores

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.

The front-page placement issue is important and becoming moreso, as news consumers get more of their news from computers, tablets and smartphones. If the headline doesn't show up on the electronic device (and it probably won't if it's not on the Business front page), users won't know to look for it.

Beyond that, the AP "somehow" decided not to include this pull quote which the Wall Street Journal found obviously newsworthy (the Journal also included the "severely cutting" opening slowdown in its headline):

(Excerpt) Read more at newsbusters.org ...


TOPICS: Business/Economy; Extended News; News/Current Events; Politics/Elections
KEYWORDS: cain; economy; housingbubble; lowes; obama
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""Today we have a clearer view of the long-term economic recovery and decided to close these 20 stores,".......The economy won't get better until Zero is removed from office.
1 posted on 10/17/2011 12:13:07 PM PDT by mandaladon
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To: mandaladon

If ever there were a child of the housing bubble, Lowes is it.


2 posted on 10/17/2011 12:14:55 PM PDT by the invisib1e hand (...then they came for the guitars, and we kicked their sorry faggot asses into the dust)
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To: mandaladon

How is Home Depot doing? Home Depot’s ad campaign always makes me want to go buy a can a paint or a shovel or SOMETHING. Lowe’s on the other hand, seems to push it’s big ticket items like appliances. Advertising does matter.


3 posted on 10/17/2011 12:16:32 PM PDT by nagdt ("None of my EX's live in Texas")
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To: mandaladon

Where I live, Lowes is the only game in town. I’d have to drive 50 miles to another Lowes or home depot. But I suspect they are doing ok since there is still construction going on around here as many folks from the city (like me)seem to be creating their own Galt’s Gulch’s around here.

I’ve given them about three grand in the last two months.


4 posted on 10/17/2011 12:17:43 PM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: mandaladon
I'm getting to the point where I just cannot take anymore bad news concerning the willful destruction of our nation.

After listening to Rush today, I'm beginning to wonder if our doom is certain? Sorry to be a wet blanket here. I think I need to take a break from the news, FreeRepublic, and anything politics.

I'm beginning to wonder if Rush has been looking for that land in New Zealand yet?

5 posted on 10/17/2011 12:19:41 PM PDT by Artcore
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To: mandaladon
The stores affected by today's announcement are located in:
Los Banos, CA Biddeford, ME Old Bridge, NJ
Westminster, CA Ellsworth, ME Batavia, NY
Denver, CO Ionia, MI N. Kingstown, RI
Aurora, IL Rogers, MN Emporia, VA
Oswego, IL Claremont, NH S. Tacoma, WA
Chalmette, LA Hooksett, NH Brown Deer, WI
Haverhill, MA Manchester, NH

6 posted on 10/17/2011 12:20:23 PM PDT by deport
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To: nagdt

You are absolutely correct. The latest Lowe’s TV ads are PATHETIC. Dancing foolishness.


7 posted on 10/17/2011 12:21:40 PM PDT by bigfootbob
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To: mandaladon

Primarily because they chose terrible store locations!

I’m in a large growing suburb and the 2 closest to me are each 12 miles away!
I have 2 Home Depot within 5 miles.....


8 posted on 10/17/2011 12:22:03 PM PDT by G Larry (I dream of a day when a man is judged by the content of his character)
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To: nagdt

I prefer Lowes because they give me a 10% military/veteran discount on every purchase. I don’t go to Home Depot because of their overt support of gay and lesbian events.


9 posted on 10/17/2011 12:22:16 PM PDT by SailormanCGA72
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To: mandaladon

1st I’ve heard about Lowes.


10 posted on 10/17/2011 12:23:37 PM PDT by nuconvert ( Khomeini promised change too // Hail, Chairman O)
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To: mandaladon

This in an increasing home improvement period as home resales are in a ditch.

How does the CEO explain that?


11 posted on 10/17/2011 12:24:12 PM PDT by G Larry (I dream of a day when a man is judged by the content of his character)
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To: nagdt
HD is doing well for illegal invaders... they work in their stores and they also gather in front of their stores to find illegal employment.

LLS

12 posted on 10/17/2011 12:26:45 PM PDT by LibLieSlayer ("Americans are hungry to feel once again a sense of mission and greatness." Ronaldo Magnus)
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To: SailormanCGA72

Well, its nickname IS Homo Depot.

I prefer Lowes myself. But I’ll do anything to avoid the nasty guy who owns my tiny local hardware store.


13 posted on 10/17/2011 12:27:17 PM PDT by miss marmelstein (Let's have a Cain Mutiny!)
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To: mandaladon; Allegra; big'ol_freeper; Lil'freeper; TrueKnightGalahad; blackie; Cincinatus' Wife; ...
Hummmmmmmmmmmmm??? Funny... none of the articles/links list the location of the closed stores--

Then, the game... must be afoot!

No, Shylock! The game's... being buried!

14 posted on 10/17/2011 12:27:22 PM PDT by Bender2 ("I've got a twisted sense of humor, and everything amuses me." RAH Beyond this Horizon)
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To: deport

Mostly BLUE STATES...........


15 posted on 10/17/2011 12:27:52 PM PDT by Red Badger (Furthermore, I think Obama must be impeached....................)
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To: deport

The stores affected by today’s announcement are located in:
= = = = = = = = = = = = = = = = = = = = = = = = = = = = = = =
I thought in ‘obamaland’ that all business would have to remain open and double the employees so the jobless # would go down.
That way, the greedy owners and stockholders will become welfare distributors and we would be in the Utopia we dream of.
The ‘real energetic’ amongst us will have a regular non(high pay)job and a part time no(high pay) job.

So HOW DARE Lowes shut down because it is worried about their bottom line.

Maybe BO will just buy them out and them they can become ‘peoples stores’.

WE ARE DOOMED if this administration isn’t retired immediately.


16 posted on 10/17/2011 12:27:52 PM PDT by xrmusn ((6/98) If govt involved, the more outlandish a scheme appears, the truer it probably is.)
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To: LibLieSlayer

We call ‘em “muster zones” in my area.


17 posted on 10/17/2011 12:28:00 PM PDT by miss marmelstein (Let's have a Cain Mutiny!)
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To: deport

Gee, virtually all Dem strongholds . .


18 posted on 10/17/2011 12:29:29 PM PDT by A_Former_Democrat
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To: Artcore

http://www.LivingInThePhilippines.com


19 posted on 10/17/2011 12:30:07 PM PDT by 2ndDivisionVet (Better to ask forgiveness than permission.)
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To: mandaladon

You may recall when the bubble burst three years ago, we had so-called economists predicting good times for the home improvement business, as many homeowners (that is, the ones not going through foreclosure proceedings) would be stuck where they were and would be more likely to add a room, remodel the kitchen, etc., instead of moving to a new and larger home.

So much for economic prognosticators.


20 posted on 10/17/2011 12:30:54 PM PDT by logician2u
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To: nagdt

“How is Home Depot doing? Home Depot’s ad campaign always makes me want to go buy a can a paint or a shovel or SOMETHING. Lowe’s on the other hand, seems to push it’s big ticket items like appliances. Advertising does matter.”

I live equidistant between a Lowe’s and a Home Depot. They are very different.

Lowe’s has more frills, more appliances, etc. It’s much closer to a department store. And at this particular Lowe’s the staff is pretty good, and they seem to care that you get what you want.

Home Depot has more stuff for projects. If you want an electrical box, or a fixture, Home Depot will have a better quality and selection. But, the staff at this Home Depot couldn’t give a rat’s patootie if you get what you came for.


21 posted on 10/17/2011 12:31:53 PM PDT by brownsfan (Aldous Huxley and Mike Judge were right.)
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To: mandaladon

All the news that’s not “fit” to print and make Obama look bad.

How deliciously exposed to the world.

Los Banos, CA Biddeford, ME Old Bridge, NJ
Westminster, CA Ellsworth, ME Batavia, NY
Denver, CO Ionia, MI N. Kingstown, RI
Aurora, IL Rogers, MN Emporia, VA
Oswego, IL Claremont, NH S. Tacoma, WA
Chalmette, LA Hooksett, NH Brown Deer, WI
Haverhill, MA Manchester, NH

NONE in Texas!

http://media.lowes.com/article_display.cfm?article_id=3093


22 posted on 10/17/2011 12:32:27 PM PDT by Cincinatus' Wife
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To: nagdt

Our town has a Home Depot and Menards. From my unscientific observations of crowds Menards blows them away.


23 posted on 10/17/2011 12:33:41 PM PDT by DManA
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To: mandaladon

I honestly see this as no big deal. Lowe’s is basically closing 1% of their stores.

And these 20 stores aren’t making a profit and they’re a drag on the rest of the company.


24 posted on 10/17/2011 12:34:14 PM PDT by proudpapa (Cain-West - 2012)
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To: LibLieSlayer

“HD is doing well for illegal invaders... “

Don’t know about all that, but the Lowe’s here has signage that is bilingual, with the Spanish being just a wee bit smaller than the English.

None of that nonsense at our local Home Depot, not yet anyway.


25 posted on 10/17/2011 12:34:41 PM PDT by brownsfan (Aldous Huxley and Mike Judge were right.)
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To: deport
Lets see, Kalifornya, Colorado, Illinois, Louisiana, Massachusetts, Michigan, Minnesota, New Hampshire, New Jersey, New York, Rhode Island, Virginia, Washington, Wisconsin.


26 posted on 10/17/2011 12:34:59 PM PDT by mazda77 (and I am a Native Texan)
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To: the invisib1e hand

Bingo.

And the people on this thread who don’t understand the consequences of being ten years overbuilt...are the same people who insited there was no housing bubble and it wasn’t going to pop three years ago.


27 posted on 10/17/2011 12:35:50 PM PDT by MrEdd (Heck? Geewhiz Cripes, thats the place where people who don't believe in Gosh think they aint going.)
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To: Artcore
I'm getting to the point where I just cannot take anymore bad news concerning the willful destruction of our nation.
After listening to Rush today, I'm beginning to wonder if our doom is certain? Sorry to be a wet blanket here. I think I need to take a break from the news, FreeRepublic, and anything politics.

I'm beginning to wonder if Rush has been looking for that land in New Zealand yet?

Your biggest problem is that you appear to put too much faith in what Rush Limbaugh says. You act as if he's the sole repository of wisdom in the country. There are many of this site who think as you do. I stopped listening to him on a serious basis some time ago when he began to comment on items that I knew a great deal about. His distortions and omission infuriated me. If I nickle for every distortion he made, I would retire early. Don't put so much faith in Limbaugh.
28 posted on 10/17/2011 12:39:41 PM PDT by truthguy (Good intentions are not enough.)
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To: deport

Over represented in this list of failure: New England, gee lets elect Mitt.

Under represented: North Dakota to Texas.

Nuff said.


29 posted on 10/17/2011 12:40:57 PM PDT by cicero2k
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To: deport
There, fixed it Lets see, Kalifornya, Colorado, Illinois, Louisiana, Massachusetts, Maine, Michigan, Minnesota, New Hampshire, New Jersey, New York, Rhode Island, Virginia, Washington, Wisconsin.
30 posted on 10/17/2011 12:41:14 PM PDT by mazda77 (and I am a Native Texan)
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To: deport

BROWN DEER, WI!

That store has only been open about 3 years. It’s a lovely store, but IMHO is located in the wrong place. It also prominently displays directional signs in Spanish in an area where there are not that many Spanish speaking patrons — a turn off, IMO.

I would spend more money there, except Menards beats them all to heck on prices. Their garden department, however, excells over Menard’s in quality and style.


31 posted on 10/17/2011 12:42:05 PM PDT by afraidfortherepublic
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To: mandaladon
Lowe's to close 20 stores

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.

Kinda surprised they're opening any stores at all!

32 posted on 10/17/2011 12:45:27 PM PDT by Alex Murphy (http://www.freerepublic.com/focus/religion/2703506/posts?page=518#518)
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To: deport

Brown Deer, WI was killed by a Menards store a couple miles away. A massive store with indoor and outdoor lumber and much lower prices. No surprise.


33 posted on 10/17/2011 12:51:29 PM PDT by sbMKE
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To: afraidfortherepublic
What I find curious is whenever a Home Depot is built in a new location, Lowes always follows. Here at Lake of the Ozarks (three county area with about 100,000 year round population) we're about to get a Menards which will increase the likelihood that one of the other two will get dinged.
34 posted on 10/17/2011 12:56:33 PM PDT by Eric in the Ozarks
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To: mandaladon
I thought the Lowe's headquarters was in Wilkesboro, NC—where Mr. Obama is today. Funny that this major news has been so soft-pedaled in NC.
35 posted on 10/17/2011 12:57:01 PM PDT by July4 (Remember the price paid for your freedom.)
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To: miss marmelstein

Great description!!!!!

LLS


36 posted on 10/17/2011 12:57:11 PM PDT by LibLieSlayer ("Americans are hungry to feel once again a sense of mission and greatness." Ronaldo Magnus)
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To: afraidfortherepublic

Half of the Brown Deer area has been driven out of business by Holder’s people. 15 years ago it was hopping. Now, the mall is closed down (Sears, Boston Store, Younkers), Best Buy is closed, Circuit City is gone, Kohls food, Big Lots, Osco Drug, auto dealers closed.... and dozens of small retailers. It’s pretty amazing how much destruction can be done by assisted and low income housing. My great Aunt and Uncle once lived in the middle of it all their whole lives - now, nothing but decay.


37 posted on 10/17/2011 12:58:49 PM PDT by sbMKE
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To: brownsfan
That is the norm at both stores... but in Lowes... I find employees that actually speak some English... I have found some at HD that do not. I truly think that they are both far too PC to tolerate... but when you need building supplies... they have cornered the market for the most part.

LLS

38 posted on 10/17/2011 12:59:32 PM PDT by LibLieSlayer ("Americans are hungry to feel once again a sense of mission and greatness." Ronaldo Magnus)
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To: afraidfortherepublic
BROWN DEER, WI!

That store has only been open about 3 years.

The Louisiana location just opened in January, 2010. It doesn't seem like a bad location, with lots of DIY types residing in St. Bernard Parish and the slow, gradual rebuilding from Katrina. I guess the nearby Home Depot was better established, had better prices or did a better job of keeping the shelves stocked.

39 posted on 10/17/2011 12:59:32 PM PDT by Charles Martel (Endeavor to persevere...)
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To: G Larry

Primarily because they chose terrible store locations!
****************************************************
They chose the “Burger King” location model ,, BK just puts a store near any McDonalds that does good volume ... Lowes puts their stores across the street from HD.

They pick good locations ...

The Lowes near me is almost always empty ,, I’m surprised it isn’t on the list.


40 posted on 10/17/2011 12:59:32 PM PDT by Neidermeyer
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To: mandaladon
Complete list of the Lowe’s stores that are closing.
41 posted on 10/17/2011 1:01:53 PM PDT by preacher (Communism has only killed 100 million people: Let's give it another chance!)
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To: nagdt

My two cents: heard on CNBC just last week that Home Depot is doing considerably better than LOWES as Home Depot has concentrated on the “retail” fixer-upper as opposed to the “contractor” window. From AP today: “shares of Lowe’s have been underperforming its rival, The Home Depot since mid-April. Year-to-date, shares of The Home Depot are down about 1%, while Lowe’s is down nearly 17%”.

On the other hand, closing 20 stores outa 1700 isn’t a whole lot indicative of much of anything to me other than they’re identifying underperforming markets and are playing catch up to HD. Interesting side note: they both pay a near 3% dividend.


42 posted on 10/17/2011 1:03:51 PM PDT by Rich21IE
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To: LibLieSlayer

Here, Lowe’s hires many Croatians/Romanians who can’t even speak English. Hard to believe when so many Americans need work, but the argument is that they can’t fill the jobs with American citizens. Sad.
.


43 posted on 10/17/2011 1:07:05 PM PDT by Viktor1959
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To: nagdt

Home depot is doing great with then homosexuals considering that homo depot goes and gives money to their agenda, has stalls at their freak parades and goes to the homosexual job fairs.

Yea Homo depot, the place where homosexuals get their money to further their agenda like teaching homosexuality in schools to little 5 year olds.

Sorry but my money does not go to there anymore.

http://action.afa.net/item.aspx?id=2147496231


44 posted on 10/17/2011 1:08:44 PM PDT by manc (Beware pro OWS trolls who promote the protests on here,then send freep mail. Marriage= 1man+1 woman)
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To: mandaladon
I tend to patronize Lowe's more often than HD only because my neighbor works at Lowes. OTT, I see them as the same store, same stuff, with a different color theme.

I'm not a fan of these big-box franchise stores. Everywhere I see Home Depot, I can find a Lowe's nearby. The same goes for Dollar General and the Dollar Store, McDonald's and BK, Church's and KFC, etc, etc, etc. It's the epitome of over-development.

45 posted on 10/17/2011 1:09:34 PM PDT by Sarajevo (Is it true that cannibals don't eat clowns because they taste funny?)
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To: proudpapa
I honestly see this as no big deal. Lowe’s is basically closing 1% of their stores.

Exactly. I was stunned to learn that Lowes has over 1700 stores. I work in the marketing department in the home office of a retailer and we're constantly adjusting our store count, closing underperforming locations and opening new ones. A press release history on Lowes' website says that they're opening a store a week, and it sounds like they fell into one of the classic retail problems: over-expansion.

46 posted on 10/17/2011 1:10:08 PM PDT by Bubba Ho-Tep ("More weight!"--Giles Corey)
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To: bigfootbob

you ever see the homo depot AD’s

Nah I bet you won’t because they don’t want you to see where your money goes.

http://action.afa.net/item.aspx?id=2147496231

enjoy these sick AD’s and now you can never wonder where your money goes when you spend it in homo depot


47 posted on 10/17/2011 1:10:51 PM PDT by manc (Beware pro OWS trolls who promote the protests on here,then send freep mail. Marriage= 1man+1 woman)
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To: cicero2k

I was thinking the same thing. Mostly the North east, the ones with the First Primary.


48 posted on 10/17/2011 1:14:34 PM PDT by Venturer
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To: brownsfan

homo depot

http://action.afa.net/item.aspx?id=2147496231

where no true conservative or republican will give their money after they have made fun and fired Christians, appease illegals and now support with your money the homosexual parades, floats

\funny hey how they’re proud sponsors of the queers and yet they will not show the public where their customers money goes to .

I drive an extra 30 miles to to got Lowes just so I won’t spend my money in that liberal pro homo, pro illegal hell hole where the staff on the whole are on par with the best buy staff


49 posted on 10/17/2011 1:14:54 PM PDT by manc (Beware pro OWS trolls who promote the protests on here,then send freep mail. Marriage= 1man+1 woman)
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To: truthguy

don’
t listen to most of them or watch them now because they’re cowards on conservative social issues.

With out a traditional family which has been the back bone of this country then all the country breaks down.

These pundits are happy to take money like Hannity but will not speak up on half of the conservative movement or views


50 posted on 10/17/2011 1:16:58 PM PDT by manc (Beware pro OWS trolls who promote the protests on here,then send freep mail. Marriage= 1man+1 woman)
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