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"While decisions that impact our associates are never easy, the store closures are a necessary step in our strategic reassessment as we focus on building a stronger business," said Marvin R. Ellison, Lowe's president and CEO. "We believe our people are the foundation of our business and essential to our future growth, and we are making every effort to transition impacted associates to nearby Lowe's stores."
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Lowe's expects to close the impacted stores by the end of the company's 2018 fiscal year, which is Feb. 1, 2019.
The company intends to conduct store closing sales for most of the impacted locations with the exception of select stores in the U.S., which will close immediately.