Tuesday, November 6th, 2018

Lowes Plans to Shut Down Underperforming Stores
News Release

The home improvement retail company announced that it’s planning to close 51 unprofitable stores across Canada and the United States.

The company stated that 31 Canadian stores, and 20 US stores will be shut down in an effort to improve upon the health of its store portfolio.

The locations are expected to close by February 1st, 2019, which is the company’s fiscal year-end.

Icelandair Group Acquires Wow Air
Press Release
USA Today

The airline announced that it has entered into an agreement to acquire all shares in the airline WOW air.

Multiple reports suggest that the deal is reportedly valued between approximately $18 to 25 million.

The deal brings in a combined market share of 3.8% in the transatlantic market. According to a company press release, both brands will continue to operate separately.

Spotify Announces a Stock Repurchase Program
Press Release

The music streaming giant announced that it plans to “commence a stock repurchase program beginning in the fourth quarter of 2018.”

The company plans to repurchase up to 10 million ordinary shares, which represents a repurchase of up to $1 billion. The decision has “been authorized by the Company’s general meeting of shareholders and the Board of Directors.”

Spotify stated that the repurchase program will end on April 21st, 2021.