On the eve of the company’s second-quarter earnings announcement, Lowe’s closed seven underperforming stores.
Shuttered are locations in Meriden, Conn.; Riverdale, Ga.; Elgin and Schaumburg, Ill.; Kenai, Alaska.; Cambridge, Minn.; and Ticonderoga N.Y.
Obviously, the move upset the affected communities. For instance, Alaska Senator Lisa Murkowski complained of the lack of notice. But CEO Robert Niblock is paid to make tough decisions, which is how he described the seven closings.