Lowe's to close 51 stores, including one in Mankato

The DIY giant is struggling to compete with the likes of Home Depot.
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Lowe's has announced it is closing 51 stores in North America amid sluggish sales, one of which is in Minnesota.

The DIY giant will close 20 underperforming stores in the U.S. and 31 stores north of the border, it announced on Monday morning.

Among the American stores closing is its location in Mankato, with a closing down sale due to start this Thursday. The store will be closed for good by Feb. 1 at the latest.

Mankato is one of 11 locations the retailer has in Minnesota.

Those who have booked installations through the Mankato store will still have their booking honored, as will any quote and estimates obtained from the store.

The company's CEO Marvin Ellison said the closures are a "necessary step in our strategic reassessment as we focus on building a stronger business."

While DIY stores have been more immune to the growth of online retail because the likes of Amazon don't sell as many home improvement products and building materials, CNN reports that Lowe's has struggled to compete with the dominance of Home Depot.

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It's worth noting too that in the Midwest, the company also has to compete with Menards.

There have been a few significant store closure announcements in recent weeks. 

Target announced it'll be closing its Brooklyn Center store as part of its annual purge of underperforming locations, while Mattress Firm just confirmed 8 store closures in Minnesota.

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