Posted on 10/17/2011 12:13:01 PM PDT by mandaladon
It's a good thing I heard this on the radio at about 11:00 a.m., because I might otherwise have missed it. With yours truly's opinion along for the ride, I'll let readers judge whether the news of the Lowe's home improvement chain announcing that it will close 20 stores and cut its new store opening plans by one-half to two-thirds deserved to be in the top ten business stories at the Associated Press as of 12:52 p.m.
Lowe's to close 20 stores
Home-improvement retailer Lowe's Cos. says it will close 20 underperforming stores in 15 states and cut 1,950 jobs in a move that it says will allow it to focus on more profitable locations.
Ten locations were closed Sunday; the other 10 will close in a month.
Before the closures Lowe's operated 1,725 stores.
Lowe's, based in Mooresville, N.C., also says it will only open 10 to 15 stores in North America annually beginning in 2012. Previously the company expected to open 30 stores per year. It will open 25 stores this year.
The front-page placement issue is important and becoming moreso, as news consumers get more of their news from computers, tablets and smartphones. If the headline doesn't show up on the electronic device (and it probably won't if it's not on the Business front page), users won't know to look for it.
Beyond that, the AP "somehow" decided not to include this pull quote which the Wall Street Journal found obviously newsworthy (the Journal also included the "severely cutting" opening slowdown in its headline):
(Excerpt) Read more at newsbusters.org ...
“How is Home Depot doing? Home Depot’s ad campaign always makes me want to go buy a can a paint or a shovel or SOMETHING. Lowe’s on the other hand, seems to push it’s big ticket items like appliances. Advertising does matter.”
I live equidistant between a Lowe’s and a Home Depot. They are very different.
Lowe’s has more frills, more appliances, etc. It’s much closer to a department store. And at this particular Lowe’s the staff is pretty good, and they seem to care that you get what you want.
Home Depot has more stuff for projects. If you want an electrical box, or a fixture, Home Depot will have a better quality and selection. But, the staff at this Home Depot couldn’t give a rat’s patootie if you get what you came for.
All the news that’s not “fit” to print and make Obama look bad.
How deliciously exposed to the world.
Los Banos, CA Biddeford, ME Old Bridge, NJ
Westminster, CA Ellsworth, ME Batavia, NY
Denver, CO Ionia, MI N. Kingstown, RI
Aurora, IL Rogers, MN Emporia, VA
Oswego, IL Claremont, NH S. Tacoma, WA
Chalmette, LA Hooksett, NH Brown Deer, WI
Haverhill, MA Manchester, NH
NONE in Texas!
http://media.lowes.com/article_display.cfm?article_id=3093
Our town has a Home Depot and Menards. From my unscientific observations of crowds Menards blows them away.
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.
“HD is doing well for illegal invaders... “
Don’t know about all that, but the Lowe’s here has signage that is bilingual, with the Spanish being just a wee bit smaller than the English.
None of that nonsense at our local Home Depot, not yet anyway.
Bingo.
And the people on this thread who don’t understand the consequences of being ten years overbuilt...are the same people who insited there was no housing bubble and it wasn’t going to pop three years ago.
Over represented in this list of failure: New England, gee lets elect Mitt.
Under represented: North Dakota to Texas.
Nuff said.
BROWN DEER, WI!
That store has only been open about 3 years. It’s a lovely store, but IMHO is located in the wrong place. It also prominently displays directional signs in Spanish in an area where there are not that many Spanish speaking patrons — a turn off, IMO.
I would spend more money there, except Menards beats them all to heck on prices. Their garden department, however, excells over Menard’s in quality and style.
Home-improvement retailer Lowe's Cos. says it will close 20 underperforming stores in 15 states and cut 1,950 jobs in a move that it says will allow it to focus on more profitable locations.
Ten locations were closed Sunday; the other 10 will close in a month.
Before the closures Lowe's operated 1,725 stores.
Lowe's, based in Mooresville, N.C., also says it will only open 10 to 15 stores in North America annually beginning in 2012. Previously the company expected to open 30 stores per year. It will open 25 stores this year.
Kinda surprised they're opening any stores at all!
Brown Deer, WI was killed by a Menards store a couple miles away. A massive store with indoor and outdoor lumber and much lower prices. No surprise.
Great description!!!!!
LLS
Half of the Brown Deer area has been driven out of business by Holder’s people. 15 years ago it was hopping. Now, the mall is closed down (Sears, Boston Store, Younkers), Best Buy is closed, Circuit City is gone, Kohls food, Big Lots, Osco Drug, auto dealers closed.... and dozens of small retailers. It’s pretty amazing how much destruction can be done by assisted and low income housing. My great Aunt and Uncle once lived in the middle of it all their whole lives - now, nothing but decay.
LLS
That store has only been open about 3 years.
The Louisiana location just opened in January, 2010. It doesn't seem like a bad location, with lots of DIY types residing in St. Bernard Parish and the slow, gradual rebuilding from Katrina. I guess the nearby Home Depot was better established, had better prices or did a better job of keeping the shelves stocked.
Primarily because they chose terrible store locations!
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They chose the “Burger King” location model ,, BK just puts a store near any McDonalds that does good volume ... Lowes puts their stores across the street from HD.
They pick good locations ...
The Lowes near me is almost always empty ,, I’m surprised it isn’t on the list.
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