Lowe's closing 31 stores across Canada

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Lowe's expects the stores targeted will be closed by February 1.

Lowe's announced today that the company would be closing more than 50 stores across North America.

Lowe's and its rival Home Depot have proven to be largely Amazon-proof, because Amazon does not sell lumber or other heavy, bulky home improvement products.

In addition to the 31 locations the brand is closing in Canada, it will also axe 20 stores in the U.S.

The store closures, all in the United States and Canada, are set to be completed by the end of January, Lowe's spokesman Steve Salazar said in an email.

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To catch up, Lowe's has been working to slash costs and boost profits in recent years. It announced in August that it would close all 99 Orchard Supply Hardware stores, leading to write downs of $390 million to $475 million.

Lowe's said the majority of the shuttered stores are located within 10 miles of another Lowe's outlet. 1, 2019 and that employees at these stories will be given the opportunity to "transition to a similar role at a nearby Lowe's store".

Lowe's also plans to close its regional support centres in Mississauga, Ont., and St. John's, N.L., as well as a truss plant in St. John's, N.L., and a block plant in Kamloops, B.C.

Marvin Ellison, the new CEO, previously said he wants to focus more on improving core retail areas and increasing online sales.

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