MEXICO – On November 20, 2018, Lowe’s announced its plans to exit retail operations in Mexico for which it is exploring strategic alternatives.

The measure is part of the Company’s strategic reassessment of the business, through which it has identified actions to drive focus on its core home improvement business and improve profitability.

The company has also identified certain non-core activities within its U.S. home improvement business to exit, including Alacrity Renovation Services and Iris Smart Home.

These actions are in addition to the previously announced decisions to exit its Orchard Supply Hardware operations, and close 20 underperforming stores in the U.S. and 31 stores and other locations in Canada.

Lowe’s arrived in Mexico in 2010. Its first two stores were opened in Monterrey, to later expand with new locations in the Mexican Republic. To date Lowe’s operates 13 stores in México and is the country’s second largest home improvement retailer after Home Depot.

Another player is Chile’s Sodimac, which entered the market this year in association with local retailer Soriana and should close 2018 with 3 stores in operation.