Advance Auto Parts to close hundreds of stores, shut down West Coast operations [Los Angeles Times (CA)]
Advance Auto Parts Inc. (AAP)
Last advance auto parts inc. earnings: 2/18 06:30 am
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Source: Los Angeles Times
The national auto supply chain plans to close more than 725 locations around the country as well as four distribution centers on the West Coast, Chief Executive Shane O'Kelly said in an earnings call last week. Although he didn't specify which stores would close, O'Kelly signaled that the downsizing would focus heavily on California and the Pacific Northwest, saying that stores supplied by the four distribution centers marked for closure will also be shut down. “Our four distribution centers on the West Coast serve a lower concentration of stores,” O'Kelly said in the earnings call. “We believe that investing in other core areas of the business will help deliver stronger profitability.” Advance Auto Parts currently has 139 locations in California, according to its website. The North Carolina-based company operates about 4,700 stores along with 1,100 independently operated locations, which are primarily in the U.S. but also in Canada, Mexico and the Caribbean islands. Operatio
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- Advance Auto Parts, Inc. (NYSE: AAP) is now covered by analysts at BMO Capital Markets. They set a "market perform" rating and a $45.00 price target on the stock.MarketBeat
AAP
Earnings
- 11/14/24 - Miss
AAP
Sec Filings
- 12/20/24 - Form 8-K
- 12/9/24 - Form SC
- 12/6/24 - Form 4
- AAP's page on the SEC website