the

Lowe's Closing Stores !!!!!!

Loes why am i at Lowe's today anybody

want to take a guess as to why I might

be standing in the parking lot of nose

today well it was announced that they're

closing 51 stores now some of these

stores are in Canada mind you about half

of them are in Canada the other half

spread out over the United States over a

couple little areas the thing is that

Lowe's apparently is struggling behind

home depot in sales now Home Depot has

always done better they're bigger they

have more stores they're better branded

and Home Depot has just always been the

place people kind of always have gone

Lowe's there's always higher price I

don't know maybe I'm wrong but what else

was announced today is that Lowe's the

things that Lowe's does well it doesn't

do as well with like Home Depot does and

that's contractor purchasing that means

the big companies the subcontractors the

guys building houses the guys building

remodeling it amounts to like 45 almost

half of all of Home Depot sales and

Lowe's it only amounts to like 30% so

they're not focusing on the things that

make them money retail everyday

customers make them money but the

contractors are what really Spurs their

business so they've got to focus on that

they've got to do better now Lowe CEO

said that a lot of these locations that

are closing are within 10 miles of

another low so they're not necessarily

necessary which is true I always

wondered why there's a McDonald's on one

corner to McDonald's five blocks down

you know maybe I'm not a genius in

retail and marketing and County lines

and breaks but there's no need for to

Lowe's to be within 10 miles of each

other we actually have a Lowe's right

here and we have another one attracted 6

miles that direction now they kind of do

service to different areas and we have a

huge amount of people that live here if

you've ever heard me complain about the

traffic it's definitely worth

complaining about so I kind of see the

need for - Lowe's we also have - Home

Depot's we have one about two miles that

way and one about two miles that way now

what I think is really interesting and

this is a topic I want to you know put

up to you guys for the comments section

why do you think stores like Amazon are

like excuse me Home Depot

Loes are so successful in the world of

Amazon and online shipping and shopping

when a lot of other you know companies

like Toys R Us and Sears and JC Penney's

are failing why would home-improvement

stores still make it and still be able

to do so well

and trust me Lowe's isn't going out of

business they're losing stores but

they're not going out of business

there's a big difference between closing

and cutting costs and actually going out

of business it's not a good sign trust

me it's not a good sign they're not

going out of business and the answer to

that question now you've had a second to

think about it is what was the last time

you went on Amazon and tried to order

plywood or two by fours when was the

last time you went on Amazon and tried

to order a miter saw probably not very

often that's something you're gonna go

into the store for when was the last

time you went on Amazon or Ebay and

tried to order a copper pipe fitting or

a CPVC

fitting a plastic one probably not very

often that's where these guys hang on to

business and that's why these guys do so

well with what they have

same with grocery stores Walmart and

Publix and and those sort of things

you're not going to Amazon to buy

strawberries or lettuce you're you're

gonna go into the grocery store same

same deal with that type of merchandise

from Lowe's and Home Depot you're gonna

go inside of here and you're gonna buy

your your your plywood you're gonna load

it up you're gonna take home you gonna

do your project you're gonna buy your

two by fours you're gonna buy your

fittings you're gonna buy your toilet

fix peace all that stuff is you're not

gonna go on Amazon for the most part or

eBay and buy it and that's why I think

these companies are still hanging on and

doing pretty well you know they're not

doing as well as they used to because

some of the stuff is going online but

they're still doing pretty well for what

they have now in just a second I'm gonna

take you online I'm gonna take you over

to my computer I'll show you the story

about Lowe's about the announcement for

the closings today don't panic on them I

did hear from a lot of people though

those of you that are into retail

arbitrage there are a lot of good deals

to be had in the low section the sale

the discount maybe even some clearance

items look for tools look for lock sets

like door locks and doorknobs look for

all sorts of things that are shippable

in a box priority maybe that you can buy

for 30 or 40 bucks and maybe sell for 80

or 90 there's definitely some retail

arbitrage opportunity inside of Lowe's

and if any of you have any experience

with retail arbitrage in

the stores you don't have to reveal your

items of course but tell us about it

tell us how you've done if you've ever

made any money inside of Lowe's

definitely something to look into and

with these announcements of store

closings there might be some inventory

to go around so especially if you live

in that area I'll link the story with

the list of stores closing on my

computer so let's jump over to that and

I'm going to show you guys that story

right now along with the list of all the

locations that are closing all right so

here we go Lowe's closing 51 stores in

the US and Canada like I said some of

those stores are north of the border and

another sign of the times for retail

Lowe's closing those 51 stores they

announced on Monday that the locations

are of course underperforming and the

decision will help the hardware chain

focus on the more profitable stores they

better hope so

the stores closures are a necessary step

that's directly from their CEO Marvin

Ellison and retail stores are struggling

to adjust for the rapid rise of online

shipping its Home Depot rival have

proven to be largely Amazon proof

because Amazon does not sell lumber or

other heavy bulky home improvement

products exactly what I just said when I

was over there at Lowe's you're not

gonna order plywood or two by fours or

backerboard or concrete or anything like

that off of Amazon I mean I wouldn't I

don't think any of you would maybe I'm

wrong

but that's why they're able to keep up

with the the times you know like Amazon

eBay whatever so god these election

pop-ups look right while I'm doing a

video for you guys an election pop-up no

thank you

Lowe's struggling to keep up with Home

Depot so it looks like Home Depot is

doing 100 million or excuse me

100 billion in revenue Lowe's below 70

billion so there are 30 percent less

than Home Depot it's pretty much you

know Home Depot has always been ahead of

Lowe's I don't think Lowe's has ever

caught home depot and he already closed

Lowe's CEO else and already closed their

Orchard Supply hardware stores a lot of

you guys notified me of that there

weren't any here in Florida closer than

two hours away so it wasn't really

didn't really make sense for me to to go

try to shop retail arbitrage there he

believes that targeting professional

home builders construction companies

with higher quality tools and equipment

again like I said

going after the contractors is their

most profitable side of their business

20 of these stores are in the u.s. 31 in

Canada and a majority of the shuttered

stores are within 10 miles of another

Lowe's location the stores will close

before February 1st and they are trying

to reassign the employees to other

locations here is the list as promised

Alabama one California for Connecticut

one Illinois to Indiana one Louisiana

one Massachusetts one Michigan to

Minnesota one Missouri to New York to

Pennsylvania one Texas one and then

north of the border bc british

columbia's one Alberta losing to Ontario

Canada losing one two three four five

six seven

Rhona and two lows so nine total and

Quebec losing aronia one two three four

five six seven eight nine and

Newfoundland Rona's one two three four

five six of them lows also said it plans

to close or consolidate for non store

facilities so that's where housings and

distribution points for them just

another store again I don't think and I

wouldn't worry about Lowe's going out of

business anytime soon typically when I

saw the seer story I saw the toys-r-us

story I told you they're not going to

make it and they didn't but Lowe's will

make it they'll be ok I think they're

gonna drastically change course this

might hurt them as long as they take

care of this and do things correctly for

the next few years they'll be good for

the long haul

otherwise it could spell a little bit of

trouble for them but I think they'll be

ok so there you go Lowe's closing 51

stores even though it's not you know the

end of the road or disaster for them it

is pretty significant and I was curious

what you guys thought about it and it

may also give you a retail arbitrage

opportunity if you happen to be anywhere

near those stores or some of the other

stores are sending off inventory in

different directions to liquidate it

there might be some chance to make some

money so hopefully you guys can and if

you do let me know thanks so much as

always make sure you use the comments

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much everyone I'll see you next time