Advance Auto Parts is closing more than 500 stores and shedding another 200 independent locations. The announcement came as the struggling car parts retailer posted disappointing quarterly results.

The nearly century-old auto parts retail giant announced on Thursday that it plans to close over 700 of its nearly 5,000 stores by mid-2025.

Advance Auto Parts operates 4,781 stores, most in the U.S. It relocated from Roanoke, Virginia, to Raleigh in 2018 after North Carolina and local governments offered the company a combined $12 million in economic incentives. As part of the deal, the maker of aftermarket auto parts pledged to create 435 new jobs at its new corporate home.

Advance Auto Parts is closing more than 500 stores and shedding another 200 independent locations to try to revive its struggling business, The Associated Press reported.North Carolina-based Advance Auto said Thursday that it would reduce its U.

The company said its gross profits grew compared to 2023, but it will close hundreds of stores while opening others.

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.

Advance Auto Parts said Thursday that it plans to close more than 700 stores after the auto parts retailer recorded a surprise quarterly loss.

Advance Auto Parts announced Thursday it would attempt to cut company losses with the closure of over 700 locations across the US.

Advance Auto Parts, a major supplier of aftermarket replacement parts and accessories, announced plans to shutter over 700 stores by mid-2025.

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.