Wednesday, November 29, 2023

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.

5 journalists attacked in Guerrero and Michoacán

0
The Tuesday shootings left five men hospitalized in what has been described as "one of the largest mass attacks" on Mexican media workers in 10 years.

How an expat in San Miguel de Allende opened her home to a brighter future

0
Learn about the lasting legacy of hope and solidarity in a rural community outside San Miguel de Allende.
Sedena AICM

3 more Mexican airports to be operated by the military

9
The National Defense Ministry is also in charge of operations at the Felipe Ángeles airport, the Maya Train and the soon-to-be-opened Tulum airport.