I honestly see this as no big deal. Lowe’s is basically closing 1% of their stores.
And these 20 stores aren’t making a profit and they’re a drag on the rest of the company.
Exactly. I was stunned to learn that Lowes has over 1700 stores. I work in the marketing department in the home office of a retailer and we're constantly adjusting our store count, closing underperforming locations and opening new ones. A press release history on Lowes' website says that they're opening a store a week, and it sounds like they fell into one of the classic retail problems: over-expansion.