See If Your Lowe's Store Is Closing

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Sylvain Prud'homme, chief executive of Lowe's Canada, did not say how many employees would be affected by the closures, but said the changes will allow the company to improve collaboration between its banners to better serve customers.

The company says the closings are part of the company's strategic reassessment. Twenty U.S. stores are also be closing. Most associates at these stores will be extended opportunities to transition to a similar role at a nearby Lowe's store.

"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", Marvin R. Ellison, Lowe's president and CEO, said in a statement.

The closures follow the shuttering of the company's Orchard Supply Hardware chain of 99 stores along with a slashing of inventory at other Lowe's locations. The majority of impacted stores are located within 10 miles of another Lowe's store.

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The company, which operates about 1,800 US stores and 300 in Canada, said it expects the closures to be completed by February, with the exception of some USA stores that are closing immediately.

In addition to the 20 USA closings, the news release stated Lowe's will close 31 Canadian stores.

While Lowe's is far smaller and less exposed to the presence of Amazon and other online sellers, the closures follow a wave of similar moves by traditional US retailers in the face of greater online competition.

The company cut its sales and profit outlook for the year.