Advance Auto Parts, one of the U.S.’s largest aftermarket auto parts retailers, will close more than 700 stores by mid-2025 following disappointing third-quarter earnings. The North Carolina-based company, which operates nearly 4,800 stores across North America, Puerto Rico, and the U.S. Virgin Islands, has not disclosed which locations will be affected.
The closures will include approximately 500 company-operated stores and 200 independently-owned locations, plus four distribution centers, reported CT Insider.
Advance Auto reported a $100 million drop in net sales for the third quarter compared to the same period in 2023, with same-store sales declining 2.3%. CEO Shane O’Kelly announced a three-year financial plan aimed at boosting asset productivity and shareholder value through improved retail operations.
Advance Auto competes in a crowded automotive aftermarket sector with Missouri-based O’Reilly Auto Parts, which operates 6,100 stores, and Memphis-based AutoZone, which leads with 7,236 stores.
