Twenty of the home-improvement retailer's stores will close in the U.S. and 31 in Canada. Most of the U.S. shops are within 10 miles of other Lowe's stores, the company said.
Lowe's plans to close the shops by Feb. 1, 2019, which is the end of the company's 2018 fiscal year. Some of the U.S. stores will close immediately.
The U.S. stores set for closure are scattered throughout the country, with the highest number, four, getting shuttered in California. In Canada, Ontario and Quebec get hit with the majority of closings. A list of all the stores planned for closing was provided on Lowe's website.
Lowe's announced the planned store closings about two weeks before it announces its next quarterly earnings report on Nov. 20. The company said it will take an earnings hit of 28 cents to 34 cents from the closures.
Lowe's was forced to close the stores to strengthen the business, said Marvin R. Ellison, Lowe's CEO, saying he regretted that jobs would be lost.
"We believe our people are the foundation of our business and essential to our future growth, and we are making every effort to transition impacted associates to nearby Lowe's stores," Ellison added.
Lowe's was rising slightly early Monday.