Lowe's announces closures; Tri-Cities and Yakima stores safe
Home improvement retailer, Lowe's announced it will close 20 under-performing stores around the country. 10 closed on Sunday and the other ten will be announced in a month. Almost 2,000 people will be without jobs . In Washington state, one store will be closing in south Tacoma.
The company also said it planned to open only 10 to 15 new North American stores per year starting in 2012, down from a previous goal of 30.
The stores in Kennewick and Pasco however are doing exceptionally well; just one reason new homes are going up and selling fast.
Renee Dahlgren, with the Tri-Cities Home Builders Association said, "our area has been pretty lucky in that we've been pretty steady. We saw a nice increase in housing starts last year and a lot of that was due to the first time home-buyer tax credit. So our numbers for this year were down about 13% year to date."
Dahlgren also says building has picked up even more recently. Even with the 13% decrease from last year, the Tri-Cities are still well above average for the rest of the country. Dahlgren did add, however, the new round of Hanford lay-offs may offset the number for next year.