The company will also restructure corporate staff to better support store and customer needs

BOUCHERVILLE, QC, Nov. 20, 2019 /CNW Telbec/ - Following a detailed strategic review of its operations, Lowe's Canada is announcing the following actions to improve performance and better position itself for the future:

Closing 34 underperforming stores to optimize its network;

Undertaking a process to simplify multiple store banners to drive efficiency and reduce operational complexity;

Reorganizing the corporate support structure across the country to better support store and customer needs; and

Rationalizing the product assortment to present a more coordinated offering to Canadian customers.

"While making decisions that impact our associates and their families is never easy, closing underperforming stores is a necessary step in our plan to ensure the long-term stability and growth of our Canadian business," declared Tony Cioffi, Interim President of Lowe's Canada. "We are taking decisive action to build a healthy business which will provide us with the flexibility to reinvest in our future growth. This includes having a clear strategy for our banners, built on the strength of our Lowe's, RONA and Reno-Depot brands. It also means investing in our omnichannel and supply chain capabilities, our web platforms, and our existing corporate stores and affiliated dealer network. Our objective continues to be providing our Canadian customers with the right products and the best service and value across every channel, for the long term."

The employees affected by these changes will be supported throughout the transition. Given the existing need for personnel throughout the Lowe's Canada network, eligible employees will be offered the opportunity to transfer to a nearby store.

Lowe's Canada will continue serving customers from markets affected by the closures via other corporate and affiliated dealer stores from its network, as well as its online offering and parcel delivery service.

Store closures and dates:

British Columbia Closing date Lowe's Prince George 2999 Massey Drive, Prince George February 19, 2020 RONA Surrey (Newton) 6965 King George Boulevard, Surrey January 31, 2020 RONA Osoyoos 6014-51 Street, Osoyoos January 31, 2020 Alberta

Lowe's Calgary - Shawnessy 295 Shawville Boulevard S.E., Calgary February 19, 2020 RONA Airdrie 2649 Main Street South, Airdrie January 31, 2020 RONA Calgary (Midnapore) 14815 Bannister Road S.E., Calgary January 31, 2020 RONA St. Albert 730 St. Albert Trail, St. Albert January 31, 2020 RONA Sherwood Park 340 Baseline Road, Sherwood Park January 31, 2020 RONA Edmonton (Ellerslie Road) 1003 Parsons Road S.W., Edmonton January 31, 2020 Saskatchewan

Lowe's Regina - North 489 Albert Street North, Regina February 19, 2020 Ontario

Lowe's Etobicoke - North 48 Lowe's Place, Etobicoke January 31, 2020 Lowe's Thunder Bay 1000 Fort William Road, Thunder Bay January 31, 2020 Lowe's Cornwall 950 Brookdale Avenue, Cornwall January 31, 2020 RONA Brockville 550 Stewart Boulevard, Brockville January 31, 2020 Home & Garden RONA - Cambridge 66 Pinebush Road, Cambridge January 31, 2020 RONA Mississauga (Rockwood Mall) 4141 Dixie Road, Mississauga January 31, 2020 Reno-Depot Aurora 140 First Commerce Drive, Aurora January 31, 2020 RONA Oshawa 1279 Simcoe Street North, Oshawa January 31, 2020 RONA Ajax 19 Notion Road, Ajax January 31, 2020 Quebec

RONA Granby 316 rue Denison Est, Granby January 31, 2020 RONA Sorel 1293 chemin des Patriotes, Sorel-Tracy January 31, 2020 RONA Bécancour 3365 boulevard Bécancour, Bécancour January 31, 2020 RONA Nicolet 2145 boulevard Louis-Fréchette, Nicolet January 31, 2020 RONA Saint-Tite 700 rue Notre-Dame, Saint-Tite January 31, 2020 RONA Trois-Rivières 15 rue Philippe-Francoeur, Trois-Rivières January 31, 2020 RONA Saint-Félix-de-Valois 3110 rue Henri-L. Chevrette, Saint-Félix-de-Valois January 31, 2020 RONA Carignan 2395 chemin de Chambly, Carignan January 31, 2020 RONA Saint-Lambert 707 rue Saint-Charles, St. Lambert January 31, 2020 RONA Saint-Sauveur 180 rue Principale, Saint-Sauveur January 31, 2020 RONA Bellefeuille - Saint-Jérôme 905 boulevard de la Salette, Saint-Jérôme January 31, 2020 Réno-Dépôt Trois-Rivières 4575 boulevard des Forges, Trois-Rivières January 31, 2020 Nova Scotia

RONA Dartmouth (Windmill Road) 500 Windmill Road, Dartmouth February 19, 2020 RONA Dartmouth (Harbour) 1000 Cole Harbour Road, Dartmouth February 19, 2020 RONA Bedford 1658 Bedford Place Mall, Bedford February 19, 2020

About Lowe's Canada

Lowe's Companies, Inc. (NYSE: LOW) is a FORTUNE® 50 home improvement company serving more than 18 million customers a week in the United States and Canada. With fiscal year 2018 sales of $71.3 billion, Lowe's and its related businesses operate or service more than 2,200 home improvement and hardware stores and employ approximately 300,000 associates. Based in Boucherville, Quebec, Lowe's Canadian business, together with its wholly owned subsidiary, RONA inc., operates or services more than 600 corporate and independent affiliate dealer stores in a number of complementary formats under different banners. These include Lowe's, RONA, Réno-Dépôt, Ace and Dick's Lumber. In Canada, the companies have more than 28,000 associates, in addition to approximately 5,000 employees in the stores of independent affiliate dealers operating under the RONA and Ace banners. For more information, visit lowescanada.ca.

SOURCE Lowe's Canada

For further information: Media Relations, Lowe's Canada, 514-599-5900, ext. 5271, 1-866-566-3342, [email protected]

Related Links

www.lowes.ca

