More than 700 Advance Auto Parts stores closed: these are the stores affected and the areas where they have been closed the most
The automotive aftermarket parts retailer as part of a 3-year “strategic plan to improve business performance” will close over 700 stores around the nation.
Advance Auto Parts is just the latest company to announce a rash of store closures in the United States. The nearly 100-year-old automotive aftermarket parts retailer said the move was part of the company’s “asset optimization program” laid out in its third quarter financial statement.
The Raleigh-based company has been struggling with lagging demand and is looking to return to profitability. Shane O’Kelly, president and chief executive officer, said in the earnings report that Advance Auto Parts has “made progress” and is “charting a clear path forward.”
More than 700 Advance Auto Parts stores closed: these are the stores affected and the areas where they have been closed the most
Advance Auto Parts, as part of its new three-year financial plan, will shutter 523 Advance corporate stores and exit 204 independent Carquest locations to reduce its US asset footprint. Additionally, it will close four distribution centers. These closures are expected to be completed by mid-2025.
The company did not specify where these store reductions would take place nor how many workers would be affected. The Milwaukee Journal Sentinel reports that six locations in Cream City will be closing their doors for good leaving 51 employees looking for a new job.
Advance says that it had 4,781 corporate operated stores in Canada, Puerto Rico and the U.S. Virgin Islands but primarily in the United States. Another 1,125 locations are independently owned Carquest branded stores in the US as well as Mexico and various Caribbean islands.
On the other hand, its strategic plan calls for accelerating the pace of new store openings. Advance Auto Parts says it will also “lower costs and improve productivity” by optimizing its transportation routes. This will involve a consolidation of distribution centers to 13 large facilities by 2026 and opening 60 market hub locations by mid-2027.
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