Lowe’s, one of the leading home improvement retail giants in North America, has undergone a number of strategic transformations in recent years. This includes closing underperforming stores, exiting certain markets, and refocusing efforts on profitability and core U.S. operations. But are they shutting down a large number of stores in 2024–2025? Here’s a deep dive into the facts, reasons, and implications behind Lowe’s store closures.
No Widespread U.S. Closures in 2024–2025
So, you might have heard rumors about Lowe’s closing down a bunch of stores in the US, right? Well, despite the chatter, that hasn’t really been happening in 2024 or early 2025. Actually, the number of their US stores even went up slightly – from 1,738 in 2023 to 1,746 early this year. Looks like any they did close were balanced out by new ones opening.
The real big move, though, happened outside the States. Lowe’s completely pulled out of Canada. By 2023, all the Lowe’s stores up there were either shut down for good or got rebranded as RONA+ under the new owners (Sycamore Partners). That basically marked the end of Lowe’s running their own show in Canada.
Background: When Did Closures Peak?
You know, the last big announcement about Lowe’s closing a bunch of stores was actually back in late 2018. That’s when they said they’d be shutting down 51 locations that weren’t really pulling their weight – 20 here in the US and 31 up in Canada. The thing is, most of those stores were pretty close to another Lowe’s, usually within about 10 miles. So, for most people affected, there was likely still another store not too far away.
I remember hearing about some specific ones, like stores right in Manhattan, NY, and several out in California getting closed. They actually went through with those closures in early 2019. It was all part of a larger plan they had to make things run more efficiently.
Why Is Lowes Stores Closing?
1. Profitability & Performance
At the core of these decisions lies a simple strategy: shut down chronically underperforming stores to improve overall profitability. CEO Marvin Ellison described the closures as a “necessary step in our strategic reassessment to build a stronger business.”
2. Refocus on the U.S. Market
Lowe’s underperformed in international markets, especially in Canada. Despite acquiring Canadian chain RONA in 2016 for $2.4 billion, operations remained unprofitable. In late 2022, Lowe’s sold its entire Canadian business for just $400 million, formally exiting by 2023.
3. Competing With Home Depot
Lowe’s has long trailed its top rival, Home Depot, in sales and market share. While Home Depot dominates in professional (Pro) customer segments, Lowe’s is pivoting to attract more contractors and Pro clients — and is therefore closing locations that don’t align with this new direction.
4. E-Commerce and Omnichannel Growth
Like all modern retailers, Lowe’s is navigating the shift to online and hybrid shopping. The company has heavily invested in its digital platform, Lowes.com, and is reallocating resources from physical stores to support this growth.
Geographic Focus of Closures
United States:
Closures in the U.S. primarily affected overlapping or redundant stores, rather than entire markets. For example:
- California: 4 stores closed in the 2019 wave.
- New York: 2 stores closed in Manhattan.
- Illinois, Missouri, and other Midwestern states saw targeted closures.
However, major regions like Florida, Texas, and North Carolina — core markets for Lowe’s — remained untouched.
Canada:
Canada saw the most dramatic impact, as Lowe’s completely withdrew from the country. Locations in Ontario, Alberta, and British Columbia were sold or shut down. In 2024, Sycamore-owned RONA+ launched more than 15 rebranded stores in Alberta and B.C., replacing former Lowe’s stores.
Impact on Employees and Local Communities
Lowe’s aimed to minimize job losses by offering transfers to nearby stores. Since many closed U.S. locations were near others, internal relocation was often possible.
However, layoffs still occurred, particularly in less dense regions. Local economies — especially smaller towns — suffered from the loss of jobs, tax revenue, and consumer traffic.
In urban and suburban areas, the impact was muted due to store redundancy and competitive alternatives (like Home Depot, Menards, etc.).
Official Statements from Lowe’s
Lowe’s has consistently communicated that store closures are strategic, not reactive. In official press releases, the company emphasized:
“These stores are underperforming compared to the rest of the fleet, and closing them will enable us to focus on locations with greater potential.” — Marvin Ellison, CEO
Regarding the Canadian exit:
“This action is an important step toward simplifying Lowe’s business model. We remain focused on our core U.S. business and improving shareholder value.” — November 2022 Investor Statement
Summary of Lowe’s Store Closures by Region (2018–2025)
| Year | Country / Region | Number of Stores Closed | Notes |
|---|---|---|---|
| 2018–2019 | United States | 20 | Mostly urban or overlapping locations |
| 2018–2019 | Canada | 31 | Part of initial downsizing phase |
| 2023–2024 | Canada (full exit) | ~40 (Lowe’s branded) | All stores sold or rebranded as RONA+ |
| 2024–2025 | United States | Very limited | No large-scale closures; some isolated underperformers |
Expert Opinions: Strategic or Misstep?
Industry analysts largely view Lowe’s closures as necessary course corrections:
- Retail consultant George Minakakis labeled Lowe’s Canadian acquisition a “botched deal”, citing cultural misalignment and operational mismanagement.
- Retail Strategy Group’s Lisa Amlani criticized store layouts and customer service, stating that Lowe’s needed a “complete retail refresh” to stay competitive.
However, analysts also recognize the upside: after shedding unprofitable locations, Lowe’s improved its operating margin and free cash flow. Wall Street responded positively to the changes, viewing them as signs of operational discipline.
Conclusion: Streamlining for the Future
As of 2025, Lowe’s is not closing stores en masse, especially in the U.S. Rather, the company has:
- Streamlined operations by exiting Canada,
- Shut down underperforming U.S. locations (mostly pre-2020),
- Focused on its core U.S. business,
- Invested heavily in e-commerce and the Pro segment.
While the term “store closures” may raise alarm bells, for Lowe’s, these moves represent targeted optimization, not a sign of distress. The brand remains one of the strongest in home improvement — with a leaner, more focused footprint ready for future growth.
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