Lowes Foods Closing 4 N.C. stores

Lowes Foods has revealed plans to shutter four underperforming stores, two in the Charlotte, N.C., area and two others in Cary and West Jefferson, N.C., by Sept. 19.

Affected employees will be transferred to other Lowes stores if possible, or offered financial assistance, the Charlotte Observer reported.

According to a statement by Lowes spokeswoman Donna Ashley, the closures are "part of a broader growth strategy for investing in new stores and major store remodels" at the grocer.

In 2012, Lowes engaged in a store swap with Matthews, N.C.-based Harris Teeter, selling 10 stores to the latter company in exchange for six locations in smaller markets and $26.5 million. One of the closing Charlotte-area stores, located in Gastonia, is a former Harris Teeter supermarket that converted to the Lowes banner.

Winston-Salem, N.C.-based Lowes, a subsidiary of Alex Lee Inc., operates about 100 supermarkets in North and South Carolina and Virginia.