Advanced Auto Parts to close more than 700 locations by mid-2025
As of October 5, 2024, Advance operated 4,781 stores primarily within the United States, with additional locations in Canada, Puerto Rico and the U.S. Virgin Islands. According to CNN, major chain stores are on track to close the highest number of stores in 2024 than in any year since 2020, when the pandemic decimated businesses.
Advanced Auto Parts pledges to close more than 700 stores
Launching a sweeping corporate restructuring, Advanced Auto Parts Inc. announced plans to close more than 500 corporate stores and 200 indepently owned sites, as well as four distribution center, by mid-2025. In all, the company said it will close or exit 727 stores in what it calls an “asset optimization program.”
Advance Auto Parts To Close 731 Stores Amid Asset Optimization Program; Sees FY25 Revenue Below View
Following the completion of a comprehensive review of operational productivity, Advance Auto Parts on Thursday announced an Asset
Advance Auto Parts to close stores, cut jobs amid sluggish demand
Advance Auto Parts said on Thursday it will close about 500 stores by mid-2025 and cut some jobs under a restructuring effort, as demand for vehicle parts takes a hit from fewer consumers opting to repair their cars.
Advanced Auto Parts’ stock falls after a surprise quarterly loss, plan to close more than 500 stores
Shares of Advance Auto Parts Inc. dropped 1.8% in premarket trading Thursday, after the maker of auto parts for both professional and do-it-yourself customers reported a surprise third-quarter loss and announced an asset optimization program that targets closing more than 500 stores and four distribution centers.
Advance Auto Parts to Close Stores as Sales Outlook Misses Views
Advance Auto Parts said it will close hundreds of stores and cut jobs after posting a surprising quarterly loss and forecasting revenue below market expectations.
Advance Auto Parts to Close Hundreds of Stores; Stock Jumps
KEY TAKEAWAYS Advance Auto Parts shares surged after the auto retailer announced plans Thursday to close hundreds of stores as it posted a surprise quarterly loss. As part of a new three-year turnaround plan,
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