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The Lowe's home improvement store in Galax is not among stores the company plans to close.
Lowe's, based in Mooresville, N.C., said in a press release that it will close 20 underperforming stores in 15 states and cut 1,950 jobs.
According to the company, the move will allow Lowe's to focus on more profitable locations.
Before the closures Lowe's operated 1,725 stores.
Lowe's said the moves will cost it 17 cents to 20 cents per share in 2011.
In August, Lowe's said volatile weather and shoppers' worries about the economy hurt demand. Its net income was nearly flat in the second quarter and the company lowered its yearly sales forecast.
One Virginia store, in Emporia, will close. All of Lowe's stores in North Carolina will remain open.