Advance Auto Parts is continuing in its plan to shutter hundreds of stores and four distribution centers in 2025, the company said in a Wednesday earnings call after initially announcing the closures in November 2024.
In releasing its fourth-quarter report Wednesday, the company reiterated its plans to close approximately 500 corporate stores, 200 independent locations and four distribution centers by mid-2025 as part of a "restructuring plan" initially laid out in 2024. clutch cylinder
"During 2024, we initiated transformative actions to reposition Advance for long-term success and value creation," said Shane O'Kelly, president and chief executive officer, in a news release Wednesday.
The company said it hopes to improve business performance by focusing on "core retail improvements" with hopes of achieving "consistent profitable growth."
The plan includes the consolidation of distribution centers to operate 12 large facilities by the end of 2026, the opening of 60 market hub locations by mid-2027, and speeding up the pace of new store openings, according to the news release.
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Advance Auto Parts' stock had plummeted by roughly 18% Wednesday afternoon as investors reacted to the company's 2025 sales guidance, The Motley Fool reported.
While the exact number of stores that have already shuttered is unclear, customers can check Advance Auto's store locator on its website for specific information on their local stores.
The company did note in its fourth quarter earnings release it had closed 40 Advanced Auto Parts and Carquest locations in the 52-week period ending Dec. 28, compared 42 stores that opened during that time frame.
And 24 Advance Auto Parts locations were listed for sale across 14 states by Hilco Real Estate. Hilco says the properties are available "individually or in any combination," and includes stores at the following locations:
The Herald Times Reporter, a USA TODAY Network site located in Manitowoc, Wisconsin, confirmed the store closure there earlier this month, in addition to a second location that also closed in the town.
The Wichita Falls (Texas) Times Record News, also a USA TODAY Network site, reported earlier this month the Advance Auto store there had also closed after nearly 20 years in business.
Headquartered in Raleigh, North Carolina, Advance Auto Parts operates more than 4,700 stores in the United States, Canada, Puerto Rico and the U.S. Virgin Islands. According to its website, the company also serves 1,125 independently owned Carquest-branded stores across these locations, in addition to Mexico and some Caribbean islands.
In a regulatory filing, the company reported it plans to close 523 corporate stores, leave 204 independent locations, and shut down four distribution centers.
Gabe Hauari is a national trending news reporter at USA TODAY. You can follow him on X @GabeHauari or email him at Gdhauari@gannett.com.
spares for cars Natalie Neysa Alund is a senior reporter for USA TODAY. Reach her at nalund@usatoday.com and follow her on X @nataliealund.