Good luck to take advantage of closing discounts at Lowe's stores

Do not expect a lot of major discounts at Lowe, despite the announcement of the closure of more than 50 stores.

The home improvement company based in Moorseville, New Brunswick, announced Monday the closure of 51 institutions before February. Twenty of these sites are located in the United States and 31 in Canada.

Most formwork stores will sell their inventory at a discount, with the exception of a few selected sites in the United States that will close immediately, the company said in its announcement.

The closure of these locations will not have a profound impact on Lowe's situation.

LOW, + 0.45%

Analysts say buyers are few and close to each other.

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To begin with, these sites represent only 2% of the total number of stores, said Laura Champine, Senior Consumer Analyst at Loop Capital Markets in New York.

This is not a worrying sign of Lowe's disappearance in the country's shopping centers.

The company stated that these locations were underperforming and that most of the affected stores were within 15 km of another Lowe site.

In addition, the closure of these stores is not a worrying sign that the company will disappear from shopping centers across the country.

The new management is actually doing some housework by closing underperforming stores, Champine said.

In its announcement, the company said it would focus on its profitable stores and on "improving the overall health of its store portfolio". (The company did not respond to a request for comment.)

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In August, the company announced that it would close 99 Orchard Supply Hardware stores in California, Oregon, and Florida by the end of the fiscal year.

Analysts predict that the new chief executive, Marvin Ellison, who took the reins in July, will bring more organizational changes over the next few months.

Even when looking for bids at a closing sale, experts say that consumers should compare prices online, asking the store to match a lower price to another store.

As with all closed sales, use gift cards at local stores and avoid badly rated products as it will be difficult to have a product repaired, replaced or returned.

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