Lowe's

[retailisking]

Here's the total list:

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

In Maine, the troubled Shops at Biddeford Crossing sustains another loss with the closure of Lowe's.  A fax issued by corporate to employees at the store said that their last day of employment was October 16th.  A phone message now directs customers to shop their location in Scarborough. This may be an ideal time for Market Basket to enter the Maine market, provided they are so inclined and the terms are favorable, though Target might have a thing or three to say about it.

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

WMTW this morning showed video of the Biddeford store facade; the Lowe's sign has already been taken down but the other telltale architectural elements are intact (for now, anyway.)

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

Ellsworth is closing as well, though it didn't close over the weekend.

The locations in Manchester, New Hampshire (customers directed to Bedford, NH) and Haverhill, Massachusetts (customers directed to Salem, NH) have also closed.  Hooksett, New Hampshire will close on November 13.  Here's a story about the Manchester and Hooksett closures:

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

And a story about Haverhill:

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

I wonder if Market Basket would be interested in Manchester, too, though perhaps the downtown and Bedford locations are enough to keep them busy for now...

Claremont NH will close as well.

In Rhode Island, North Kingstown will close in about a month following sell-off of inventory

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

In western New York Batavia will close on or about Jan 13

http://thebatavian.com/howard-owens/employees-batavia-lowes-told-store-closing-layoffs-coming/28691

[Zayre88]

Canadian home improvement chain Rona rejects hostile takeover bid from US rival Lowe’s

By Associated Press, Updated: Tuesday, July 31, 10:58 AM

TORONTO â€" The Quebec provincial government said Tuesday a potential hostile takeover of Canada’s largest home improvement chain by U.S. rival Lowe’s is not in the province’s or Canada’s interest after Rona Inc. announced it rejected a $1.76 billion Canadian (US$1.75 billion) offer from Lowe’s.

(...)

Headquartered in Mooresville, North Carolina, Lowe’s is relatively small in Canada â€" with only about 31 stores. Lowe’s has over 1,700 stores in the U.S.

Rona has more than 30,000 employees operating a network of nearly 800 stores under several banners as well as 14 hardware and construction distribution centers.

Lowe’s is the latest U.S. retailer looking to expand in Canada. Target is set to enter Canada next year.

http://www.washingtonpost.com/business/canadian-home-improvement-chain-rona-rejects-unsolicited-takeover-approach-from-lowes/2012/07/31/gJQAU07dMX_story.html

[retailisking]

Lowe's has abandoned its hostile Rona takeover attempt, for now
http://www2.macleans.ca/2012/09/17/lowes-withdraws-plans-for-rona-takeover/

[Stork of The Weak]

Is 20,000 square feet of the former Lowe's in Biddeford, Maine still empty? The majority of the space became Market Basket some time ago. I hope if the rest of the space is still empty it can become a Total Wine store, which would give Canadians an alternative (perhaps not legal though?) to the overpriced alcohol in their country. Also the Kmart in Waterville would make a nice space for Total Wine if it ever closes.

[Zayre88]

Lowe's Agrees to Buy Canada's Rona for $2.3 Billion in Cash


Lowe’s Cos. agreed to buy rival Rona Inc. for C$3.2 billion ($2.3 billion) in cash to create one of Canada’s biggest home-improvement retailers, almost four years after its earlier takeover proposal got rebuffed.

Lowe’s will pay C$24 per share in cash, it said in a statement, more than double yesterday’s closing price of C$11.77. It agreed to pay C$20 for the Boucherville, Quebec-based company’s preferred shares. The boards of both companies approved the planned transaction.

http://www.bloomberg.com/news/articles/2016-02-03/lowe-s-agrees-to-buy-canada-s-rona-for-2-3-billion-in-cash

[TheFugitive]

The Canadian Dollar during that time has plunged from near-par to under 70 cents US.
Rona probably needs the cash.  And Lowe's is getting a bargain.

[giantsfan2016]

Lowe's has shuttered its 2 year old Meriden, Connecticut store. It wasn't profitable.

http://www.myrecordjournal.com/meriden/article_cb4b26f4-c742-11e0-b060-001cc4c002e0.html

If you want my opinion it was too close to their Wallingford Store.

With no prospects for new tenants taking over the former Meriden Lowe's (which still has a lease for another year or so), they're leasing some 300+ parking spaces to Amazon for the next 2 months to shuttle employees to the Amazon Warehouse in nearby Wallingford.

[giantsfan2016]

Lowe's is laying off 2400 Full-time Workers
http://www.necn.com/news/business/Lowes-to-Lay-Off-Full-Time-Employees-411009015.html

[retailisking]

More full-time corporate jobs get the ax
http://www.charlotteobserver.com/news/business/article134017739.html

[TheFugitive]

And yet they just opened a new store at Century Square in West Mifflin, PA

[zonemad96]

I think when it comes to the home improvement and the diyers lowes is a good place to go but if you're a contractor or work in the construction trade you aren't going to lowe's you are going to home depot. Home depot has more competitive prices then lowe's, always has large quantities of items in stock, and overall a bigger selection than lowe's. I think if lowe's was to stay relevant they need to find ways to appeal more to people who work in construction trades and not just the home improvement market.

[Retail Fan+ (Justin Hill)]

Here's a tongue twister: "How many Lowe's could Rob Lowe rob if Rob Lowe could rob Lowe's?"