Monday, October 17, 2011

Lowes to Close 20 Stores, Lay off 1,950

Clearly the recovery is gaining momentum.

Lowe's Cos. LOW -0.05% is closing 20 under-performing stores in 15 states within a month and discontinued plans for several new stores in order to improve profitability and strengthen its financial position.
The closings affect about 1,950 employees, and the home-improvement retailer will book a related second-quarter charge of 17 cents to 20 cents a share.
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