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Lowe’s latest store closures aren’t the first in Marvin Ellison’s short CEO tenure, and might not be the last

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Lowe’s latest store closures may not be the last, analysts say.

Lowe’s Cos. Inc.’s Monday announcement that it would shutter 51 “underperforming” stores, 20 of them in the U.S., is the second set of closures in Marvin Ellison’s short tenure as chief executive of the home renovation retailer, and analysts say they might not be the last.

The company announced in August that it would close all 99 Orchard Supply Hardware stores, located in California, Oregon and Florida, and its distribution facility by the end of fiscal 2018.

On the second-quarter earnings call discussing the move, Ellison said the company had to simplify for better results.

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