The company said it is shutting down 523 stores and four distribution centers, as well as exiting 204 independent locations by the middle of 2025.-based Advance Auto said Thursday that it would be reducing its U.S. footprint as part of a “strategic plan to improve business performance.” The company said it is shuttering a total of 523 of its Advance corporate stores, as well as four distribution centers, and exiting 204 independent locations by the middle of next year.
Specific locations and the number of employees expected to be impacted was not immediately disclosed. A spokesperson for Advance Auto declined to comment further.Advance Auto still outlined some wider turnaround efforts in Thursday's announcement. Despite these sizeable closures, the company noted goals like an “acceleration in pace of new store openings” and adopting a standardized operating model.
Advance Auto on Thursday posted a loss of $6 million in its third quarter on revenue of $2.15 billion. The company also lowered its full-year revenue outlook for the second consecutive quarter. The seller of car batteries, motor oil and more has seen some waning sales since the start of the year, and is making efforts to boost its balance sheet. Earlier this month, the company closed a $1.5 billion sale of Worldpac, its automotive parts wholesale distribution business, to investment firm Carlyle.Advance Auto primarily operates in the U.S., but also has some corporate stores and independent locations in Canada, Mexico and various Caribbean islands. As of Oct.
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