Advance Auto Parts to Close Over 700 Stores by 2025
The retailer is implementing a turnaround plan due to declining sales and financial losses.
- Advance Auto Parts will shutter 523 corporate-owned stores, exit 204 independent locations, and close four distribution centers.
- The closures are part of a strategic three-year plan to improve profitability and streamline operations.
- The company reported a $6 million loss in the third quarter of 2024, with sales declining to $2.15 billion from $2.2 billion the previous year.
- Advance Auto Parts completed the sale of Worldpac for $1.5 billion to focus on core retail operations.
- Despite the closures, the company plans to open 60 market hub locations by mid-2027 and improve supply chain efficiency.
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