Lowe's Closes 20 Stores; Eatontown is Not on List
The Route 9 Old Bridge store is affected and will be closed, says company.
An announcement from Lowe's Companies Inc. Lowe's Companies, Inc. announced today the company is closing 20 underperforming stores in 15 states. Ten locations closed at the end of business Sunday, October 16. The remaining 10 locations will close within approximately one month, following an inventory sell-through. In addition, after completing a comprehensive review of its pipeline of proposed new stores, the company announced it has discontinued a number of planned new store projects. Lowe's now expects to open 10 to 15 stores per year in North America from 2012 forward, compared to a prior assumption of approximately 30 stores per year. The company is on track to open approximately 25 stores in 2011, as planned. The expected financial …
