Lowe's shutting down two RONA store in northern Ontario, plus a Lowe's

Sears closed its last Chicago store

It shouldn't take long to close the impacted stores, as Lowe's expects to complete the process by the end of the company's 2018 fiscal year (Feb. 1, 2019).

Stores in north suburban Gurnee and Portage, Ind., are among the 20 U.S. Lowe's locations set to wind down operations by February as the North Carolina-based chain focuses on its most profitable stores.

Founded in 1946, Lowe's has more than 2,390 stores and previous year generated $68.6 billion in sales.

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The list of other USA stores closing include locations in Alabama, California, Connecticut, Indiana, Louisiana, Massachusetts, Michigan, Minnesota, New York, Pennsylvania and Texas. Ellison told investors in August that the smaller OSH stores were not running well and could never become a big part of Lowe's overall business.

Lowe's will offer affected employees the opportunity to transfer to similar roles at nearby stores.

The closures will reduce the company's expected annual earnings per share by 28 to 34 cents, it said.

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A list of impacted stores may be found on Lowe's newsroom.

The home improvement company is not the only retailer to close its doors in recent months.

Lowe's stores in USA states including New York, Texas and California and Rona outlets in Ontario, British Columbia and other Canadian provinces are being shut, Lowe's said.

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Ellison left J.C. Penney where he was also CEO in May to join Lowe's.

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