Chuck Willman UtahHomes.me, Utah Homes (Utah Homes)

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Rainmaker
2,753,432
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

It is possible that all those employees will get their real estate license. After all, we all know how easy real estate is - right?  

Nov 05, 2018 08:04 AM
Rainmaker
474,691
Bruce Kunz
C21 Solid Gold Realty, Brick, NJ, 732-920-2100 - Howell, NJ
REALTOR®, Brick & Howell NJ Homes for Sale

I heard all the closing stores are "within 10 miles of another Lowe's location and most employees are expected to be offered jobs at a nearby store". Considering there is almost always a Home Depot nearby a Lowe's, previous poor planning and likely due to over-saturation on their part...
Bruce

 

Nov 05, 2018 09:07 AM
Rainmaker
1,204,273
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I don't see that as a big deal.  51 stores is not much, they have 7 in my area and are building another!

Nov 05, 2018 07:58 AM
Ambassador
2,340,939
Fred Griffin presently on Leave of Absence
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

  They overbuilt; they are making a correction.

Nov 05, 2018 08:58 AM
Rainmaker
511,695
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

That's too bad that the company is not doing well. In Danbury we have a Lowes & a Home Depot & both seem to be booming with business. 

Nov 05, 2018 08:20 AM
Rainmaker
342,271
Susie Kay
Ultima Real Estate - Plano, TX
North Dallas Specialist

They are closing only a store in Texas, I guess we are doing really well. 

Nov 05, 2018 02:35 PM
Rainmaker
983,722
Valeria Mola
SIB REALTY - Sunny Isles Beach, FL
305-607-0709 SIB Realty

Sad news for people who workd there.

Nov 05, 2018 11:27 AM
Rainmaker
522,628
The Villages Realty
The Villages Realty - San Jose, CA
"Our Performance Will Move You!"

I find it interesting, as it seems more and more people are staying put and doing home improvements.  Strange business call as far as I'm concerned, but I don't have a look at their books either.  

Nov 05, 2018 10:16 AM
Rainmaker
1,385,067
Kat Palmiotti
Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

I interpret this news as just another large company that needs to readjust their plan to address market realities.

Nov 05, 2018 04:41 PM
Rainmaker
377,366
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

It is a business decision which should enable them to be more streamlined. Every business should make their decisions based on what makes the most sense for profits.

Nov 05, 2018 12:10 PM
Rainmaker
1,409,727
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

Yes, that is sad. 

A lot of people will look for job. 

Nov 05, 2018 11:43 AM
Rainmaker
1,203,887
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Maybe the economy in those areas are not as strong as other areas.

Nov 05, 2018 09:45 AM
Rainer
135,537
Byron K . Jones
Coatesville, PA
List Today - Sold Tomorrow!

Good Business Practice, same as Real Estate Brokerages, i see them close same as closing a lowes or a kmart...

Nov 05, 2018 08:37 AM
Ambassador
3,143,558
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

I'm so sad - their HQs are local and we much prefer them to their competition.

Consider 1 store per state and 1 in DC and it doesn't seem that big of a deal though. 

Nov 05, 2018 10:15 PM
Ambassador
2,844,074
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Alabama and Texas surprise me.  I am not really suprised about any others on the list in the US and I don't know enough about Canda, regulations, taxes there to have an informed opinion.  But I get that businesses have to make those decisions sometimes.

Nov 05, 2018 06:38 PM
Rainmaker
991,914
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Sad to hear. 

Nov 05, 2018 06:31 PM
Ambassador
4,000,566
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Hope our town is not on that list.

Nov 05, 2018 02:58 PM
Rainmaker
3,127,128
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Too many stores and heavy competition.

Nov 05, 2018 01:14 PM
Rainer
218,231
Caroline Gerardo
CMG Financial - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

Retail is shrinking. Hey I bought a wood splitter on line because Lowes didn't have anyone who could answer a question about them. Store clerk said,"why would you need that?" 

Nov 05, 2018 12:25 PM
Rainmaker
4,825,455
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

I'd be concerned if Home Depot was in that position!!!! 

Nov 05, 2018 12:20 PM
Rainmaker
724,194
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Too many stores. Hopefully most can transfer and keep their job if they want it.

Nov 05, 2018 12:07 PM
Rainmaker
5,213,645
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

No impact here.

Nov 05, 2018 10:37 AM
Rainmaker
640,225
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Lowe's owns Orchard Supply, a California based operation. Orchard Supply is being shut down by Lowe's. There are also Lowe's stores in our area. The market is not big enough for both operations to be profitable enough, I guess.

Many retail models are adversely impacted in today's Amazon world.

Nov 05, 2018 09:52 AM
Rainmaker
1,232,015
Raymond E. Camp
Howard Hanna Real Estate Services - Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

As the shelves are constantly low, it is surprising the one here is not closing!

Oh and I shop at the ACE farther from my home!

Nov 05, 2018 09:19 AM
Rainmaker
4,270,786
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Chuck,

It is hard to have an opinion on this subject.  Whatever their reasons for closing, I would guess it has to do with lack of profitability in those 51 stores.  That is a bold move when I think of it from a commercial real estate perspective.  These stores have long term leases, and they probably are negotiating a buy out.   A

Nov 05, 2018 09:11 AM
Rainmaker
3,209,781
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

The world of retailing is changing.  Again. Still.  Always. 

Nov 05, 2018 07:56 AM
Rainer
36,483
Kris Collis
Smart Way America Realty - East Stroudsburg, PA
Buy & Sell with Professional Results you Expect
Nov 09, 2018 06:06 PM
Rainmaker
3,998,395
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Wow, had not heard this, but do not see any stores in CO that will close.

Nov 09, 2018 07:19 AM
Rainmaker
1,263,011
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

It looks like over half, 27 of the 51 are in Canada.  Not that big of a hit in the U.S.

Nov 07, 2018 05:31 PM
Rainmaker
2,932,014
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

It's a necessary business decision that large corporation make every day. We can ask the same of Sears' closing, etc.

Nov 06, 2018 05:47 AM
Rainmaker
4,796,209
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I see it as a potential downturn for the economy soon. 

Nov 06, 2018 05:35 AM
Rainmaker
1,930,941
Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Local hardware stores have to work harder to compete with big box building outlets. We have two local ones with a Lowes still open for business 39 miles up the road. Jobs of any kind lost impact the local economy. 

Nov 06, 2018 03:43 AM
Rainmaker
1,471,105
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

And not just them... online sales are getting a lot of businesses out of business. As they say: adjust or die...

Nov 06, 2018 12:02 AM
Rainmaker
2,678,457
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Chuck Willman UtahHomes.me not a good news.

Nov 05, 2018 03:40 PM
Rainmaker
718,851
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Competition (home depot) and online purchases.

Nov 05, 2018 02:18 PM
Rainmaker
1,494,721
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

They closed a bunch in my area years ago & they gave no notice to any of their employees. Just locked them out of a closed store. Don't do business with them anymore.

Nov 05, 2018 01:57 PM
Rainmaker
736,541
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

How do I interpret this?

Lowe's has done a poor job marketing the benefits they offer OVER the Depot. Even ACE is doing a better job.

They should, need to, show images of citizens in long check out queues and assure the citizen, "We don't do that at LOWE's!" 

The high end grocery chains have maintained their great profit margins by paying attention to the checkout lines.

As a real estate professional, that LOWES 10% discount card we could offer was of marketing value, but no longer.

 

Nov 05, 2018 09:22 AM
Ambassador
3,981,808
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

I have not heard that. Our local Lowes stores are always busy and do not see them closing. Maybe fewer people are doing home projects.

Nov 11, 2018 08:19 PM
Rainmaker
3,034,862
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Not good.

 

Nov 10, 2018 11:43 AM
Rainmaker
3,974,946
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Well, after dealing with them for some time I can see why this is happening.

Nov 05, 2018 06:43 PM
Rainmaker
4,431,350
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

No opinion.

Nov 05, 2018 05:24 PM
Ambassador
1,595,362
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Business as usual.

Nov 05, 2018 02:26 PM