Somebody mentioned that as soon as the OSH closings are done, we'll hear about more Lowe's stores being closed. Anybody knows if this is true?
And if it is, is there any way to know your store will end up on that list? Any indicators outside of the store's earnings?
One would assume they would keep stores that are directly across from Home Depot but maybe that is too intelligent of an observation for Lowes. Otherwise, you are handing the market to Home Depot in those areas if Lowes is closed. Lowes needs to make itself unique and get more positive publicity. Home Depot prices are cheaper also. Lowes charges way too much on deliveries and installs.
Low sales volume, distance to other stores and distribution centers are but a few indicators.
If you work for Lowes and don’t have a current, up-to-date resume you’re a fool. Your job could be cut at any time for any reason.
Most of the time is depends on operating costs as well. The store I work for owns the land and the building out right. They wouldn’t close this store even though sales are middle of the pack because operating costs are cheap. Some stores that lease their land and building at a high price but have middle of the pack sales - may be an option to close because the profit margin is so small. Hopefully that makes sense.