Thursday, June 13, 2024

Lowe’s closes its Mexico home improvement stores

The United States-based home improvement store Lowe’s announced that its nine-year venture into the Mexican market was coming to an end with the closure of its 13 stores.

Rumors of an impending closure first emerged in November when the firm was reported to be analyzing its options.

Yesterday, the exit was confirmed when Lowe’s México issued a statement declaring that “after several months of analyzing alternatives, [the firm] has decided to permanently shut down its operation in Mexico, effective today.”

An anonymous source told the newspaper Milenio that Lowe’s shutdown in Mexico is the result of the firm having failed to achieve adequate sales, and was unable to compete with competitor Home Depot.

Source: Milenio (sp)

Have something to say? Paid Subscribers get all access to make & read comments.
Refugees displaced by an armed attack on their Chiapas town stand in the bleachers of a open air sports court and look at proceedings below through a protective wire fence

Over 4,000 residents flee Chiapas town following armed attack

Thousands in the Chiapas town who fled a June 4 armed attack by a criminal group refuse to go home until authorities can ensure their safety.
An endangered vaquita swimming in the ocean

May vaquita porpoise survey finds fewer specimens than in 2023

The survey, which takes place annually in Mexico’s Upper Gulf of California, recorded the lowest-ever number of individual vaquitas.
Man in uniform and hard hat spraying auditorium seats for mosquitos, surrounded by pesticide fumes.

Study shows dengue cases in Mexico primed for widespread expansion

As dengue cases in Mexico continue to rise in 2024, a new study predicts that the mosquito-borne virus will affect 81% of Mexico by 2039.