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Lowe’s Plans to Close 51 Stores, Names New CIO

Lowe’s Plans to Close 51 Stores, Names New CIO

Lowe’s has announced it plans to close 51 “underperforming store locations as part of its ongoing strategic reassessment,” the company reported in a press release.

Twenty of those locations will be in the U.S., and 31 will be in Canada, the company reports. The company says many employees at locations that are closing will be given the chance to apply to other nearby Lowe’s locations, as “the majority of impacted stores are located within 10 miles of another Lowe’s store,” the company confirms.

“While decisions that impact our associates are never easy, the store closures are a necessary step in our strategic reassessment as we focus on building a stronger business,” says Marvin R. Ellison, Lowe’s president and CEO.  “We believe our people are the foundation of our business and essential to our future growth, and we are making every effort to transition impacted associates to nearby Lowe’s stores.”

In August, the company announced the closure of 99 Orchard Supply Hardware locations in California, Oregon and Florida.

The company says many of the stores will close by the end of its 2018 fiscal year, which ends on Feb. 1, 2019.

A New CIO

The big-box retailer has also announced the appointment of a new chief information officer, it confirmed in a press release.

Seemantini Godbole will serve as the CIO, beginning Nov. 12. She currently serves as senior vice president, digital and marketing technology at Target.

Lowe’s says Godbole brings more than 25 years of technology experience to the role.

“Seemantini is a tremendous addition to the Lowe’s executive leadership team,” says Ellison. “She is a proven retail executive and brings to Lowe’s extensive expertise in transforming digital platforms to drive outstanding results by focusing on the technology needed to improve the customer and associate experience. I am confident Seemantini is the right leader to advance Lowe’s technology efforts for the future.”

About Todd Taber

Todd Taber
Todd is an assistant editor for Hardware Retailing magazine. He graduated from Indiana University where he majored in journalism and French. Throughout his career, he has aimed to highlight small businesses and their community value. He joined NRHA in 2017 and now serves on the news and marketing teams. In his free time, he likes to run, spend time with family and travel the country.