They say people vote with their feet and tend to go where life looks brightest for them. National interstate migration patterns suggest that this is true, and now a Lowe’s home improvement store decision makes the same suggestion — but a little bit louder.
Lowe’s Companies, Inc. (NYSE:LOW) announced today the company is closing 20 underperforming stores in 15 states. Ten locations closed at the end of business Sunday, October 16. The remaining 10 locations will close within approximately one month, following an inventory sell-through.
Why are these specific stores underperforming? Every company and corporation goes through periods of growth and contraction, but the locations of the Lowe’s closings is very suggestive of an overall national pattern.
The stores affected by today’s announcement are located in:
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Notice any pattern there?
All but one of the stores Lowe’s is closing are in states Obama carried in 2008.
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