Advance Auto Parts announced on Thursday that it is closing at least 500 corporate stores by mid-2025, and exiting another 200 independent locations. The move comes as the company said in a release that its gross profit increased 11% in the third quarter of 2024 to $907 million compared to the same period a year ago.

Advance Auto Parts plans to close more than 500 stores by 2025. Here's what to know about how Ohio is affected.

Advance Auto Parts executives announced Thursday that the company will be closing 523 corporate stores through 2027.

Advance Auto Parts’ stock falls after a quarterly loss, and release of a plan to close more than 500 company stores and four distribution centers.

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

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.

At the start of 2024, Advance Auto Parts had 4,786 stores across the U.S. Representatives declined to provide a list of stores that would be part of the mass closings, pointing instead to the publicly available investor data released as part of the earnings call.

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.