Where is the nearest lowes store
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
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much everyone I'll see you next time
