Lowe’s closing 20 underperforming stores, two in NH, one in Maine

first_imgHooksett, NH Biddeford, ME Ionia, MI Manchester, NH Batavia, NYDenver, CO Old Bridge, NJWestminster, CA Ellsworth, ME Brown Deer, WIHaverhill, MA Claremont, NH Emporia, VAOswego, IL S. Tacoma, WAChalmette, LA For additional facts about these announcements, visit store closings and discontinued projects fact sheet.With fiscal year 2010 sales of $48.8 billion, Lowe’s Companies, Inc. is a FORTUNE® 50 company that serves approximately 15 million customers a week at more than 1,725 home improvement stores in the United States, Canada and Mexico. Founded in 1946 and based in Mooresville, N.C., Lowe’s is the second-largest home improvement retailer in the world. For more information, visit Lowes.com.MOORESVILLE, N.C. (BUSINESS WIRE), October 17, 2011 – Lowe’s Rogers, MN N. Kingstown, RIAurora, IL Lowe’s Companies, Inc. (NYSE:LOW) announced today the company is closing 20 underperforming stores in 15 states (three in New Hampshire, including the one in Claremont, and two in Maine). Vermont has only two Lowe’s stores, both in Chittenden County, which are not effected. By comparison, there are 15 total stores in New Hampshire and 12 in Maine. See closure list below.A Wall Street Journal article suggested that Lowe’s has lost some ground to larger and resurgent Home Depot in the Northeast.Ten locations closed at the end of business Sunday, October 16. The remaining 10 locations will close within approximately one month, following an inventory sell-through, accroding to a Lowe’s statement. In addition, after completing a comprehensive review of its pipeline of proposed new stores, the company announced it has discontinued a number of planned new store projects. Lowe’s now expects to open 10 to 15 stores per year in North America from 2012 forward, compared to a prior assumption of approximately 30 stores per year. The company is on track to open approximately 25 stores in 2011, as planned.The expected financial impact of today’s announcements of $0.17 to $0.20 per diluted share was not contemplated in the business outlook for fiscal 2011 which the company provided on August 15 when it released its second quarter earnings. Additional details regarding the impact of the store closings will be provided in the next quarterly earnings release on November 14.‘Closing stores is never easy, given the impact on hard-working employees and local communities,’ said Robert A. Niblock, chairman, president and CEO. ‘However, we have an obligation to make tough decisions when necessary to improve profitability and strengthen our financial position.‘Lowe’s remains committed to making strategic investments and focusing resources in a manner that will generate the greatest shareholder value, enhance the customer shopping experience and create sustained customer loyalty over the long term,’ added Niblock.Approximately 1,950 employees will be affected by these closings. Employees will receive pay and benefits for 60-90 days. In addition, Lowe’s will be working with local government agencies to help employees with outplacement assistance.The stores affected by today’s announcement are located in:Los Banos, CAlast_img read more

"Lowe’s closing 20 underperforming stores, two in NH, one in Maine"

Friday people roundup

first_imgIreland Strategic Investment Fund, International Investment Funds Association, Castle Harbour Securities, Scope Ratings, Delta Management ConsultingIreland Strategic Investment Fund – Donal Murphy, former head of project finance at the Bank of Ireland, has joined the National Treasury Management Agency as head of infrastructure and project finance for the new sovereign development fund. Ronan McCabe, until last month senior portfolio construction analyst at Pioneer Investments, has also joined the ISIF. International Investment Funds Association (IIFA) — Thomas Richter has been appointed deputy chairman of the International Investment Funds Association, at the association’s AGM in Canberra, Australia. Richter is chief executive of the German Investment Funds Association (BVI). Along with Paul Stevens of the Investment Company Institute (ICI), who is the newly-elected chairman of the IIFA for two years, Richter is to focus on a stronger positioning of the investment industry with regard to global regulation initiatives.Castle Harbour Securities — Damien Regnier is joining Castle Harbour Securities to co-manage new fund Pure Global Convertibles. He previously managed Deutsche Asset & Wealth Management’s (DeAWM) DWS Invest Convertibles fund. Before joining DeAWM in 2010, Regnier was head of long-only convertible bonds at Vega-Chi, having been a convertible bond trader at JP Morgan’s investment bank before that.   Scope Ratings — Karlo Fuchs, Florian Stapf and Annick Poulain Thomas are among six people to be appointed by the rating agency, following the hiring of Torsten Hinrichs two months ago as chief executive of the company. Fuchs has been appointed as head of covered bonds, having been senior director in charge of covered bonds at Standard & Poor’s (S&P) for the past 15 years, while Stapf is to become executive director in charge of the business development of corporates, banks and bank bond ratings in Germany, Austria, Switzerland and Scandinavia. Stapf comes to the company after 14 years at S&P, where he was responsible for client business management and business strategy for companies and financial institutions. Poulain Thomas has been hired to take over Scope Ratings’ analytical review function and has worked at Moody’s for more than 19 years. Carlos Ignacio Terré has been hired within the structured finance team as executive director, following a role as director of structured finance at Fitch Ratings in Madrid. Michael John Mackenzie is to become a London-based executive director, supporting structured finance business development. Before this, he was in charge of structured finance business development for the EEMEA region at DBRS and S&P in LondonDelta Management Consulting — Bernd Baur and Peter König have set up new investment consultancy firm in the German institutional market Delta Management Consulting, and are the firm’s founding partners. Each has more than 25 years experience in the asset management industry. Baur’s previous roles include equity portfolio manager at Commerz International Capital Management, chief investment officer at Metzler Investment and COO and head of institutional clients at Union Institutional. König, meanwhile, was previously head of asset allocation and currency management at Commerz International Capital Management, worked in product development at Commerzbank Asset Management as well as having been head of Central Europe at Morgan Stanley Investment Management.last_img read more

"Friday people roundup"

Beat writer Q&A: Sam Blum of the Daily Progress breaks down the dominant Cavaliers

first_img Comments Published on January 8, 2018 at 11:24 pm Contact Sam: [email protected] | @Sam4TR Syracuse (12-4, 1-2 Atlantic Coast) tips off against Virginia (14-1, 3-0) on Tuesday at 8 p.m. in John Paul Jones Arena. The Orange is coming off its first back-to-back losses of the season, on the road to Wake Forest and at home to a depleted Notre Dame squad. Meanwhile, UVA has steamrolled through conference play with its top-ranked defense, most recently holding North Carolina, one of the nation’s best offensive teams, to 49 points in the Cavs’ win on Saturday. Now, Syracuse has to find a way to overcome Virginia for the third straight year.The Daily Orange spoke with the Daily Progress’ Sam Blum, who previously worked at The D.O. and now covers Virginia athletics.The Daily Orange: When Syracuse’s struggling offense meets Virginia’s top-ranked defense, are there any cracks Syracuse can find in the pack-line? How many points does the Orange muster?Sam Blum: I think the whole point of the pack-line is that even one crack makes it totally ineffective. Right now, there aren’t many cracks. And it’s interesting how versatile it’s proven to be. Virginia has been going more and more with smaller lineups, featuring De’Andre Hunter (basically a guard) at the power forward position. Against North Carolina, UVA had a host of different players guarding Joel Berry. The point being, players are able to come in somewhat interchangeably, and still be effective. Isaiah Wilkins might be the best defensive player Virginia has ever had – and that’s saying something. The Cavaliers have held seven opponents under 50 points this season, most recently the defending national champions. Luke Maye, Ky Bowman and Ahmed Hill, elite scorers, have all had season-worst games against Virginia. How many points does Syracuse get? With such an non-diverse offense, I’d guess 45 points.The D.O.: Virginia is 14-1 and undefeated in league play despite being unranked in preseason polls. Why is this team so much better than expected?AdvertisementThis is placeholder textS.B.: UVA lost four scholarship players. Three transferred and one graduated. Not a single player who averaged in double figures returned. It makes sense that the predictions weren’t super positive. So, it’s ironic to think that UVA is one of the deepest teams in college basketball. The emergence of Hunter. The speed and scoring ability of Nigel Johnson. Kyle Guy’s growth as a scorer, and Devon Hall playing with elite efficiency for the first time in his career. Everyone’s just a little better than expected. With the defensive foundation the program already had, there’s little reason to think this start is a fluke.The D.O.: Syracuse has stunned Virginia in their last two meetings — Boeheim’s 1000th* win and the 2016 Elite Eight — by ratcheting up full-court pressure and flustering the Cavs. Is UVA expecting the same if Syracuse trails this year, and is the team any better prepared to handle it?S.B.: I mentioned Nigel Johnson in that last answer. He’s a graduate transfer, the first-ever in Tony Bennett’s career. And Bennett brought him on because of his speed. Because Virginia could be exposed when the game sped up. But that’s not the case anymore. The Cavaliers can play with tempo. They beat two pressing teams in Virginia Tech and VCU, and played really well against No. 2 West Virginia, the lone loss on the campaign. A big part of that is having Johnson. Syracuse definitely has more length in their press, which makes it tougher to break. That said, UVA seems able to handle pressure defense in the backcourt.The D.O.: Which player might surprise Syracuse fans and have a big impact in the game?S.B.: De’Andre Hunter. No doubt about that. He doesn’t have the numbers, but his last few games have been big. He has different athleticism than any other Virginia player. He can shoot. He can defend as well as, if not better, than any of his teammates. Against UNC, he had a wild dunk over Joel Berry and said afterward that when he took off, he hoped Berry would jump too, knowing he could dunk on him. So, he has a little moxie too. People who watch Virginia basketball sometimes say it’s boring. There’s nothing boring about Hunter.The D.O.: What didn’t we ask that Syracuse fans should be thinking about?S.B.: One Virginia player who played really well against Syracuse the last few games was London Perrantes. He excelled from the 3-point line. The question is if Ty Jerome will fill that role on Tuesday. He’s a spot-up shooter, more so than catch-and-shoot. So, it would make sense that Jerome could have a big game. It’ll be interesting to see how much the Cavaliers rely on 3-point shooting. It was a crucial part of the big Virginia Tech win, but not a prevalent part of this offense overall.center_img Facebook Twitter Google+last_img read more

"Beat writer Q&A: Sam Blum of the Daily Progress breaks down the dominant Cavaliers"

German Media: Football Representation of B&H has a Heart of a Boxer and after that, everything is Possible

first_imgGerman media have been full of praise about a football team of Bosnia and Herzegovina, which will, play its first match at the World Cup in Brazil. The first match will be played against Argentina.Germans have the opinion that Bosnia Herzegovina currently has a team with the best and finest football players in its history. However, they emphasize that the biggest star and the secret weapon of B&H representation is its coach Safet Susic.“He has won prizes about which even Franz Beckenbauer is still dreaming. In addition, he was chosen as the best player in the history of Paris Saint-Germain, and the best international player in the French league of all times. Also, he was chosen as the best football player of Bosnia and Herzegovina in the 20th century” , writes the German newspaper Die Zeit.Germans believe that the national selection of B&H currently has players who are tactically and technically trained to play in a great manner. They consider that those particular characteristics will be a great asset to the B&H on Mundial in Brazil.“Bosnia and Herzegovina is the only debutant in this championship and possesses a group of a very young and good football players, and now many say that this is their golden generation. Tactically they are fantastically trained and technically brilliant and they have a few football players who are a truly world class,” announces this famous newspapers, which also reminds us that many of them have played, or are still playing in the Bundesliga.“First of all, it is their attacker Edin Dzeko! This football giant has set many records in Wolfsburg, and then he moved to Manchester City. On the one occasion, in the most difficult moments, with a bandage on his head, he scored even three goals. Beside him, there are still many in the German Bundesliga, for instance Vedad Ibisevic, Sead Kolasinac, captain Emir Spahic,  Sejad Salihović and their playmaker Zvjezdan Misimovic, who is currently playing in China,” says Die Zeit.“We do not know what the result will be in Brazil. But one thing is forsure, even the Bosnian Serbs would cheer and support for the team which many times proved very strong and persistent. B&H has a football team that has a heart of a boxer, and after that everything is possible. Now the result is not so much important, because these guys have already done all to make B&H happy and proud. Even now they are world champions in their country,” announces the popular German newspaper. Bosnia and Herzegovina, plays in Group F along with Argentina, Nigeria and Iran. (Source: Radiosarajevo.ba)last_img read more

"German Media: Football Representation of B&H has a Heart of a Boxer and after that, everything is Possible"