Lowe's Store Closings, Layoffs About Time, Analysts Say

Consumers may have been stunned when home-improvement chain Lowe’s announced Monday it would close 20 stores and lay off nearly 2,000 employees.

Analysts, however, say it was about time.

“The bottom line is that we view these changes as positives for [the retailer] as they are reflective of a broader organizational and strategic transformation,” Credit Suisse analyst Gary Balter wrote in a research note.

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