Lowe's closes 20 underperforming stores nationwide

[retailisking]

Several Lowe's in three New England states closed abruptly Sunday, part of a wave of 20 closures nationwide.

Biddeford, ME:

Last day of business was today as detailed in a letter faxed by Lowe's corporate to employees.  If you call the store there's a recorded message stating that the Biddeford location is permanently closed and to visit the Scarborough store.  The home improvement retail sector is extremely over-stored; you have to wonder if this store's demise is a harbinger of more closures to come.  The store was a key anchor of the Shops and Biddeford Crossing which has struggled since it opened in 2007 amid skepticism as to whether there would be enough of a customer base to support a power center so close to South Portland.

http://www.wgme.com/newsroom/top_stories/videos/wgme_vid_9625.shtml

Lowe's wasted no time in taking down the Lowe's sign

http://www.wmtw.com/news/29503597/detail.html

Manchester, NH closed, with Hooksett on the way:

http://www.unionleader.com/article/20111017/NEWS02/710179959

Haverhill, MA is also closed.

http://www.eagletribune.com/local/x744036436/Haverhill-Lowes-closes

North Kingstown, RI will close in about a month

http://www.wpri.com/dpp/news/local_news/south_county/wpri-providence-lowe%27s-to-close-north-kingstown-store-jmq

A bit outside New England, Batavia, NY will also close on or about Jan 13:
http://thebatavian.com/howard-owens/employees-batavia-lowes-told-store-closing-layoffs-coming/28691

Other stores in New England to close are in Claremont, NH and Ellsworth, ME.  Here is the entire list from Lowe's corporate:

http://investor.shareholder.com/lowes/ReleaseDetail.cfm?ReleaseID=615133

[Zayre88]

Wow that's a breaking news!

In this economy... stores don't have much time or room to gain market share and stay open. 

I guess that if the economy would have been a bit better, these stores would have been allowed to stay open longer to gain traction.  In some ME/NH markets however, there was already a HomeDepot and Lowe's opened a store too.  It was hard to believe that towns like Ellsworth, Biddeford and Claremont would go from having only small hardware store chains to having a large Home Depot and having a Lowe's on top of that.

[Zayre88]

Several Lowe's in three New England states closed abruptly Sunday, part of a wave of 20 closures nationwide.

Biddeford, ME:

If you call the store there's a recorded message stating that the Biddeford location is permanently closed and to visit the Scarborough store.  The store was a key anchor of the Shops and Biddeford Crossing which has struggled since it opened in 2007 amid skepticism as to whether there would be enough of a customer base to support a power center so close to South Portland.

That a huge loss for the Biddeford Crossing... after losing Linens'n Things, Old Navy, Fashion Bug, Chili's and TGI Fridays...  What else can fit in that big former Lowe's?

And what about the other Lowe's: Ellsworth, Claremont...  Manchester and Hooksett might have better chances of being filled quickly by a large retailer.

[retailisking]

I'm hoping Biddeford can land a destination retailer like Bass Pro Shops or Market Basket, but that's probably a pipe dream.  It'll be considerably tougher filling remote places like Ellsworth and Claremont.  One thing's for sure - the go-go era of big box retail buildouts is over for a long time to come.

[vwnut13]

That a huge loss for the Biddeford Crossing... after losing Linens'n Things, Old Navy, Fashion Bug, Chili's and TGI Fridays...  What else can fit in that big former Lowe's?

And what about the other Lowe's: Ellsworth, Claremont...  Manchester and Hooksett might have better chances of being filled quickly by a large retailer.

Hooksett already has a Walmart, Target, Home Depot, Kohls, and BJs just a mile down the road.

Manchester has two targets within about 5 miles either way.  Walmart does want a new store though.

Claremont has a Walmart and Kmart.  A Target would be a welcome addition.  In fact, it would be a perfect location.  It would become the closest Target to Vermont on the eastern side of the state.  They would get lots of business I would guess.

[nims57]

Gosh... I thought closing stores was a no-no for them. Walgreens just closed some of the first stores they ever did four months ago. And the signs are still up after four months!

[retailisking]

The Claremont Lowe's only opened in April of 2010!
http://media.lowes.com/article_display.cfm?article_id=2965

It's a smaller unit (103K square feet) which might make re-use of the property easier than in, say, Biddeford which has 160K to fill.  Would Target fill all 103K with its current focus on smaller stores?

[Zayre88]

The Claremont Lowe's only opened in April of 2010!
http://media.lowes.com/article_display.cfm?article_id=2965

It's a smaller unit (103K square feet) which might make re-use of the property easier than in, say, Biddeford which has 160K to fill.  Would Target fill all 103K with its current focus on smaller stores?

103K would be about right for a Target.  However, it's true that many other Lowe's are more 150 to 160K... that's a problem.

What can fit in there is Home Depot? Walmart? a Warehouse club?  Easier said than done because most of the touched cities already have these stores...

[gu4ever]

I'm not surprised about the Manchester, NH location closing at all.
Location, location, location..... FAIL.....
About 15 years ago the Walmart across the street was built as an HQ that ended up  closing due to poor performance.
There are so many home improvement stores open in my area now,  where about 10 years ago it was the 1 home depot and make sure to get there early in the morning or else you were sitting in lines forever during your whole shopping trip.
It's nice to be able to visit home depot now without the crazy lines... but every single town around manchester doesn't need a home depot or lowes... Especially in this economy.

http://www.bing.com/maps/#JnE9Lmh1c2UlMmJyb2FkJTJibWFuY2hlc3RlciUyYm5oJTdlc3N0LjAlN2VwZy4xJmJiPTU2LjU3MTQzMjc5MDg2NTIlN2UtMjcuMDM2ODQyMzQ1NSU3ZTI1LjU4MTgyOTQ1NjM3MjElN2UtMTE1Ljg5NDI2NDIyMDU=

A birds eye view of Lowes... Apparently before it was even built... The buildings were Harvey Industry prior to being torn down.

[vwnut13]

I'm not surprised about the Manchester, NH location closing at all.
Location, location, location..... FAIL.....

Totally agree about the location of Lowes in Manchester.

I wonder if the Lowes in Hooksett could turn into Sam's Club.  Sams and WalMart would be right next to each other.

Now, a Target in Claremont would be, absolutely awesome.  Target would get a lot of business.

[Zayre88]

I'm not surprised about the Manchester, NH location closing at all.
Location, location, location..... FAIL.....
About 15 years ago the Walmart across the street was built as an HQ that ended up  closing due to poor performance.

A birds eye view of Lowes... Apparently before it was even built... The buildings were Harvey Industry prior to being torn down.

I visited Manchester a couple times in the past but only found out about Lowe's by accident this summer.  Took a wrong turn somewhere and ended up arriving on Huse Road.  The area is a retail area for sure but the physical location was bad, not directly seen from South Willow Street, back of the store facing the Mall, and the store is kinda downhill a bit where you don't think of going.

My question is: would that former Lowe's be larger than the former-HQ-now-Walmart ?  That Walmart is so small for a city like Manchester it's unbelievable.  Lowe's could be a better building but parking might be an issue...

[gu4ever]

There will be a new walmart built on gold street the former auto mile off from south willow street.
It was interesting to see the entire auto mile move from gold st within 10 years to the other side of the 293 highway near the current Walmart.

I'm not surprised about the Manchester, NH location closing at all.
Location, location, location..... FAIL.....
About 15 years ago the Walmart across the street was built as an HQ that ended up  closing due to poor performance.

A birds eye view of Lowes... Apparently before it was even built... The buildings were Harvey Industry prior to being torn down.

I visited Manchester a couple times in the past but only found out about Lowe's by accident this summer.  Took a wrong turn somewhere and ended up arriving on Huse Road.  The area is a retail area for sure but the physical location was bad, not directly seen from South Willow Street, back of the store facing the Mall, and the store is kinda downhill a bit where you don't think of going.

My question is: would that former Lowe's be larger than the former-HQ-now-Walmart ?  That Walmart is so small for a city like Manchester it's unbelievable.  Lowe's could be a better building but parking might be an issue...

[Zayre88]

There will be a new walmart built on gold street the former auto mile off from south willow street.
It was interesting to see the entire auto mile move from gold st within 10 years to the other side of the 293 highway near the current Walmart.

Where is it on Gold Street?  Is it all approved and ready to go?  Yes I agree that the Walmart area is now auto dealer area.  So what will happen with that Walmart and the Lowe's...?

[gu4ever]

There will be a new walmart built on gold street the former auto mile off from south willow street.
It was interesting to see the entire auto mile move from gold st within 10 years to the other side of the 293 highway near the current Walmart.

Where is it on Gold Street?  Is it all approved and ready to go?  Yes I agree that the Walmart area is now auto dealer area.  So what will happen with that Walmart and the Lowe's...?

When I was still  living in Manchester it had been finalized, they are slowly dismantling vacant buildings and dealerships, + I believe a few small businesses might be moving off that street. So next year at this time the new Walmart should be open if everyrthing goes accordingly. The new location will be behind the Hannaford that is on john devine dr.
I was surprised that Walmart spent the money to update it's current location that will close with the newer graphics and shifting departments and new shelving systems too, but I guess they completed that over a year ago and it did need to be freshened up.
The lowes and walmart will remain vacant with no further  plans mentioned at this time.

[vwnut13]

The Lowes that is closing in Claremont is having a 50% off sale.

I can't tell you the last time that I have ever seen a parking lot for any store that packed.

Cars parked up and down the roadways, trucks with two tires in the flower beds, etc.  There wasn't a spot to be found.  You had to drive around until someone managed to beat the lines.

[Zayre88]

The Lowes that is closing in Claremont is having a 50% off sale.

I can't tell you the last time that I have ever seen a parking lot for any store that packed.

Cars parked up and down the roadways, trucks with two tires in the flower beds, etc.  There wasn't a spot to be found.  You had to drive around until someone managed to beat the lines.

Is that 50% off everything storewide?  That what I call a closing sale!

[vwnut13]

The Lowes that is closing in Claremont is having a 50% off sale.

I can't tell you the last time that I have ever seen a parking lot for any store that packed.

Cars parked up and down the roadways, trucks with two tires in the flower beds, etc.  There wasn't a spot to be found.  You had to drive around until someone managed to beat the lines.

Is that 50% off everything storewide?  That what I call a closing sale!

Yep, everything was half price.

[d_fife]

why was the one in Claremont so SHORT LIVED???? it only lasted 1.5 years! whats the status of it now

OK, is Lowe's on its way out? and why did Biddeford's close, something always closes in taht plaza

it will be hard to fill all those vacant spots.

[retailisking]

The obvious answer is that there simply wasn't enough business for so many big-box home improvement stores in these markets, and given that Lowe's was last to the market (often with inferior real estate) the fix was in as the recession persisted.

[XDeSuEhTX]

No matter the excuse, you know this economy is in trouble when Lowe's closes stores.

[retailisking]

Chains study economic and demographic trends and make projections accordingly when planning for growth.  Sometimes these bets do not pay off.  The 2009 ARRA was expected to stimulate the housing market, but the stimulus proved short-lived, which might explain the short life for Claremont.

[d_fife]

why did new hampshire get it the most with Lowe's closing, esp Greater Manchester. why did Biddeford's close?

[Zayre88]

why did new hampshire get it the most with Lowe's closing, esp Greater Manchester. why did Biddeford's close?

Good question because apparently NH has a low unemployment rate, under 5% or something like that!

[d_fife]

why did new hampshire get it the most with Lowe's closing, esp Greater Manchester. why did Biddeford's close?

Good question because apparently NH has a low unemployment rate, under 5% or something like that!

why did Biddeford's Lowe's close

[retailisking]

Even an area with a low unemployment rate can oversaturate with retail.  And even within a state with a low overall unemployment rate there are pockets of higher unemployment and lower income residents.  It's telling in that regard that relatively upscale Bedford is keeping its Lowe's even as Hooksett and Manchvegas lose theirs.  Biddeford has always struggled - downtown couldn't even keep a Renys, which gravitates towards downtowns - and the Biddeford Crossing development has been snakebit since day one.  Just too much retail to serve a smallish population base that has proven more willing to continue traveling the 15 or so miles to go to the Maine Mall area than developers had hoped.

[Zayre88]

...and the Biddeford Crossing development has been snakebit since day one.  Just too much retail to serve a smallish population base that has proven more willing to continue traveling the 15 or so miles to go to the Maine Mall area than developers had hoped.

That is so true but personally I believed it was a good idea to develop such a center as Saco-Biddeford are twin cities (like Lewiston-Auburn or Bangor-Brewer).  The problem is that the market was maybe too small and too close to Portland...

They should have started slowly and grow at a steady pace like the Augusta Marketplace.  The Biddeford Crossing popped up suddenly with Target, Lowe's, Old Navy, LNT, Tjmaxx, more smaller stores and 4 restaurants!!  Too big too soon.

[d_fife]

Even an area with a low unemployment rate can oversaturate with retail.  And even within a state with a low overall unemployment rate there are pockets of higher unemployment and lower income residents.  It's telling in that regard that relatively upscale Bedford is keeping its Lowe's even as Hooksett and Manchvegas lose theirs.  Biddeford has always struggled - downtown couldn't even keep a Renys, which gravitates towards downtowns - and the Biddeford Crossing development has been snakebit since day one.  Just too much retail to serve a smallish population base that has proven more willing to continue traveling the 15 or so miles to go to the Maine Mall area than developers had hoped.

what do you think of how Biddeford Crossing is doing? is it really failing?

[retailisking]

The vacant Ellsworth Lowe's will likely be taken over by Jackson Lab, a leading employer in Eastern Maine that breeds research mice
http://bangordailynews.com/2012/03/19/business/jackson-lab-planning-expansion-into-ellsworth-with-purchase-of-former-lowes-building

[retailisking]

That was reported on WMTW tonight. The only grocers I know of that could occupy the entire space would be Market Basket or Wegmans. Demographics of the area would appear to favor Market Basket.  However, Hannaford is landlocked at its current location in Biddeford and may be looking to expand, although its existing location has the advantage of being located in an area of very high population density, a saving grace of the Shaw's in Saco. Locating in the Crossing would risk cannibalizing the Hannaford in Kennebunk, which took over the former Stop & Shop a couple of years ago. Should be interesting...stay tuned!

http://www.wmtw.com/marketplace/jobs/Best-Buy-announces-it-is-closing-Biddeford-store/-/8793864/10933858/-/129g94k/-/index.html

[Zayre88]

That was reported on WMTW tonight. The only grocers I know of that could occupy the entire space would be Market Basket or Wegmans. Demographics of the area would appear to favor Market Basket.  However, Hannaford is landlocked at its current location in Biddeford and may be looking to expand, although its existing location has the advantage of being located in an area of very high population density, a saving grace of the Shaw's in Saco. Locating in the Crossing would risk cannibalizing the Hannaford in Kennebunk, which took over the former Stop & Shop a couple of years ago. Should be interesting...stay tuned!

Very interesting.  A supermarket would bring traffic for sure.  However, A Lowe's building is too large for a supermaket.  The latest Market Basket stores that have opened are buildings of 77,000 sq.ft.  This about half of the Lowe's space.

If it's not Stop & Shop, Hannaford or Shaw's...  Could it be Market Basket, a Costco?  It probably can't be something like Whole Foods... We'll have to stay tuned!