If ever there were a child of the housing bubble, Lowes is it.
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.
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.
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?
|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|
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.....
1st I’ve heard about Lowes.
This in an increasing home improvement period as home resales are in a ditch.
How does the CEO explain that?
Then, the game... must be afoot!
No, Shylock! The game's... being buried!
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.
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!
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.
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!
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.
I am really sorry about this. I want a recovery as soon as possible.
10 bad stores out of 1,950? That is very good record on demographic studies for placing their stores.
In my area Lowes is better than HD.
On the sales floor, staffing is cut to the bare bones, putting more and more work onto fewer and fewer employees. The stress is felt at all levels. Store managers and ASMs who used to be nice people are uptight and snippy. People who can't take it are quitting making the situation even more stressful in the stores. For the rest who are left .... well, the hamster can only churn his wheel so fast. Ya know?