Lowe’s to open California fulfillment center in October as part of its home delivery expansion

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Lowe’s Cos. said Wednesday that it will be opening a West coast fulfillment center in Mira Loma, Calif. in October, part of a network of facilities that will expand company’s home delivery capabilities. The fulfillment center will help the company get purchases to shoppers in two days. This is the company’s second fulfillment center; the first opened in Nashville in 2018. Lowe’s also has plans for 50 cross-dock delivery terminals, seven bulk distribution centers and a total of four e-commerce fulfillment centers. Twenty of the cross-dock delivery terminals will be on the West Coast. The do-it-yourself retailer has opened a number of facilities of varying sizes in cities like Chicago and Columbus, Oh. over the past 18 months. The company announced a $1.7 billion investment in the expansion by 2023. The initial expansion will also create nearly 5,000 jobs. Lowe’s stock rose 0.8% in Wednesday premarket trading and has rallied 28.5% for the year to date. The S&P 500 index has gained 3.2% for 2020 so far. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.