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10-17-2011, 11:48 AM
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Banned
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Join Date: Nov 2008
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Lowe's to Close 20 Stores
SAVE LOWE'S! SAVE LOWE'S! SAVE LOWE'S! SAVE LOWE'S!
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Originally Posted by article
Home-improvement retailer Lowe's Cos. says it will close 20 underperforming stores in 15 states and cut 1,950 jobs in a move that it says will allow it to focus on more profitable locations.
Ten locations were closed Sunday; the other 10 will close in a month.
Before the closures Lowe's operated 1,725 stores.
Lowe's, based in Mooresville, N.C., also says it will only open 10 to 15 stores in North America annually beginning in 2012. Previously the company expected to open 30 stores per year. It will open 25 stores this year.
Lowe's says the moves will cost it 17 cents to 20 cents per share in 2011.
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http://www.msnbc.msn.com/id/44928593/
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10-17-2011, 11:55 AM
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GreekChat Member
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Join Date: Jan 2003
Location: Texas
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I wonder why this was news. It's sad when folks lose their jobs, but I wouldn't think closing 1% of your stores (underperforming ones, at that) would be breaking news.
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10-17-2011, 11:58 AM
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Quote:
Originally Posted by knight_shadow
I wonder why this was news. It's sad when folks lose their jobs, but I wouldn't think closing 1% of your stores (underperforming ones, at that) would be breaking news.
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I really hate news stories like this. The news services know that using a recognizable name (like Lowe's) will freak people out and get them all to read the story - even if, as you said, it's only a teeny percentage of stores.
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It is all 33girl's fault. ~DrPhil
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10-17-2011, 12:19 PM
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It doesn't even say which stores are closing.
I know in my area they have way too many Home Depots and Lowes for a newly developed city. I wonder if one of these is on the list to be closed.
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The way to gain a good reputation, is to endeavor to be what you desire to appear. - Socrates
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10-17-2011, 12:25 PM
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I saw this story at the Chicago Trib. site...one of the comments was that the person did not shop there because Lowes has all their signage in both English and Spanish and their community isn't Hispanic enough for that to be necessary, therefore Lowes doesn't research and cater to the local community so that's why that person shops at Home Depot instead.
What a moron.
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The Real World Can't Hear You ~ GC Troll
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10-17-2011, 12:46 PM
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Join Date: Mar 2005
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__________________
“All his life he tried to be a good person. Many times, however, he failed.
For after all, he was only human. He wasn't a dog.”
― Charles M. Schultz
Warning: The above post may be dripping in sarcasm and full of smartassedness.
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10-17-2011, 12:51 PM
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GreekChat Member
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Join Date: Jul 2001
Location: ILL-INI
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Quote:
Originally Posted by AlphaFrog
I saw this story at the Chicago Trib. site...one of the comments was that the person did not shop there because Lowes has all their signage in both English and Spanish and their community isn't Hispanic enough for that to be necessary, therefore Lowes doesn't research and cater to the local community so that's why that person shops at Home Depot instead.
What a moron.
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I would like to assure that moron that most of the contractors in his area are indeed Hispanic.
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10-17-2011, 01:29 PM
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Join Date: Aug 2004
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Quote:
Originally Posted by summer_gphib
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Thanks, one is indeed in my area but not the one I thought would close.
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The way to gain a good reputation, is to endeavor to be what you desire to appear. - Socrates
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10-17-2011, 01:39 PM
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They're getting 60-90 days of severance and outplacement assistance, which is pretty good for low to moderate-skilled retail jobs.
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10-17-2011, 03:53 PM
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Banned
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As for why this is news, it is important to stay informed about the local, national, and international economies. Never wait for shit to hit the fan before you smell the shit.
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10-17-2011, 04:00 PM
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GreekChat Member
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Quote:
Originally Posted by DrPhil
As for why this is news, it is important to stay informed about the local, national, and international economies. Never wait for shit to hit the fan before you smell the shit.
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It's important in the cities affected, but the closures will have such a small impact (relatively speaking) that it doesn't seem "national news-worthy."
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10-17-2011, 05:15 PM
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Quote:
Originally Posted by knight_shadow
It's important in the cities affected, but the closures will have such a small impact (relatively speaking) that it doesn't seem "national news-worthy."
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How do you know? They are closing stores and opening stores.
And even being important in the cities affected is substantial and news worthy enough.
Consumers, including those who are Occupying Something, always complain about being uninformed and "the secrets of capitalism." Then when these types of news stories come up, some people are like "why are we being told this?" You can't have it both ways, folks. Simply ignore the stuff that you don't want to hear or read about. I'm glad that this information is being shared with the national and international public because we can never claim that Lowe's did not keep the consumers aware of some things.
Last edited by DrPhil; 10-17-2011 at 05:18 PM.
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10-17-2011, 05:26 PM
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GreekChat Member
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Quote:
Originally Posted by DrPhil
And even being important in the cities affected is substantial and news worthy enough.
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News-worthy, yes. National news-worthy, not so much.
If it was in the Aurora Times-Gazette, fine. But being on MSNBC seemed a little off to me.
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*doesn't lose butt*
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10-17-2011, 05:40 PM
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Join Date: Jun 2010
Location: Northeastern US
Posts: 888
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Quote:
Originally Posted by AlphaFrog
I saw this story at the Chicago Trib. site...one of the comments was that the person did not shop there because Lowes has all their signage in both English and Spanish and their community isn't Hispanic enough for that to be necessary, therefore Lowes doesn't research and cater to the local community so that's why that person shops at Home Depot instead.
What a moron.
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OMG I had a guy like that at my work, he has since retired, but he was all proud that he "walked right out" because of the signs. Who cares? Heck, in certain parts of the country the store signs are in Spanish only (Not necessairly at Lowe's but at local stores)
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* Winter * "Apart" of isn't the right term...it is " a_part_of"...
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