Lowe’s and Rona to Close in the Sault

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SaultOnline received multiple tips on Monday morning that Lowe’s in Sault Ste. Marie is closing, as well as the Rona on Black Road. The Northern avenue location was contacted and management offered no comment on the subject.

Lowe’s is relatively new to the Sault, having opened in the old Zellers spot in 2015.

Lowe’s Companies Inc. has sent the following press release;

Lowe’s Companies, Inc. today announced the wind-down of certain underperforming store locations as part of its ongoing strategic reassessment. To focus on its most profitable stores and improve the overall health of its store portfolio, the company will:

  • Close 20 U.S. stores. Most associates at these stores will be extended opportunities to transition to a similar role at a nearby Lowe’s store. The majority of impacted stores are located within 10 miles of another Lowe’s store.
  • Close 31 Canadian stores and other locations.

“While decisions that impact our associates are never easy, the store closures are a necessary step in our strategic reassessment as we focus on building a stronger business,” said Marvin R. Ellison, Lowe’s president and CEO.  “We believe our people are the foundation of our business and essential to our future growth, and we are making every effort to transition impacted associates to nearby Lowe’s stores.”

Lowe’s expects to close the impacted stores by the end of the company’s 2018 fiscal year (Feb. 1, 2019). To facilitate an orderly wind-down, the company intends to conduct store closing sales for most of the impacted locations with the exception of select stores in the U.S., which will close immediately. Lowe’s has partnered with Hilco Merchant Services to help manage the process in the U.S. and ensure a seamless experience for customers.

The expected financial impact of today’s announcement of $0.28 to $0.34 per diluted share was not contemplated in the business outlook for fiscal 2018 which the company provided on Aug. 22 when it released its second quarter earnings. Additional details regarding the impact of the store closings will be provided in the next quarterly earnings release on Nov. 20.

For the full list of closing stores, click here.

46 COMMENTS

  1. Adios. The Sault is getting that much closer to it’s retirement town status. This started 30-40 years ago when they showed everyone that they weren’t open for business with their crazy business taxes, power costs, etc. Genesee and Wyoming the Huron Central lessees, another billionaire company threatening to leave by years end if we don’t pay for their maintenance. Why? because they are bullies and they can. Now Searchmont is US owned as well. How about some Canadian businesses for a change?

    • I really do not see the Sault as a desirable location for many retirees. The weather, the lack of efficient public transportation and the high price of rentals or long term care homes are all detriments in my opinion. The Sault is a dud, Sure, naturally gifted a nice place to come from but the glory days of the Sault are long gone. Older people move away to southern Ontario towns where they not living in the boonies of the great white north and have better access for everything.

  2. The corporate comment that gets me is, “…the store closures are a necessary step in our strategic reassessment as we focus on building a stronger business…” How do you build a stronger business by removing the ability for potential customers to shop in your stores? With the closures of both RONA and Lowes in the Sault, where is the next closest Lowes store for the Sault shopper? Would it be Sudbury – 300 KM away? There is a store in the US in Petosky that is about 100 miles away in Michigan. I’d think if you want to build your business, an alternative would be to close one of two stores, and maybe downsize the remaining store to make it affordable to run; then do some very competitive marketing. By closing these and similar stores they are likely eliminating millions of potential customers.

    • I was just about to say this – we had what, 5-6 big box hardware stores and a couple smaller mom-and-pop shops? It’s way too many for this small a population. Most are ridiculously overpriced thanks to the rising cost of transporting large/heavy goods up here too.

  3. Just a small town, getting smaller every day…as in most of the markets, where retailers like Lowe’s, is leaving…adios…drive elsewhere to buy stuff you don’t need, or stay in your run-down abode, and shop on-line at Wayfair.ca

  4. I am a current employee here and this is very shocking news. Hopefully myself and the other employees will land on our feet. I really feel bad for those who were just hired on a couple weeks ago.

  5. I always wondered why Lowes opened here how many do it yourself shop hardware is needed. Timber Mart Home Depot Home Hardware Even Canadian Tire has a lot of products of hardware

    • Why? Good prices, great selection, and phenomenal customer service. Things that other DIY shops in town are missing in one form or another. there’s not a week that has gone by where I haven’t ran up to Lowe’s Canada to purchase something. It’s going to be frustrating taking two steps back and have to deal with lowering my standards

    • Mailis Lewis I agree so many people have lost their jobs when Sears closed years back Zellers also I think the way stores do business now is changing with online company’s like Amazon Shoppers want the best price and the least hassle when purchasing anything

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