Advance Auto Parts to close hundreds of stores, slash jobs amid sluggish demand [USA TODAY]
Advance Auto Parts Inc. (AAP)
Last advance auto parts inc. earnings: 2/18 06:30 am
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Source: USA TODAY
The announcement came with the release of the company's third-quarter report on Thursday, when it reported an adjusted loss of 4 cents per share, compared to a loss of $1.19 one year ago. The car part supplier's increased 11% in the third quarter this year compared to the nearly 37% increase in last year's third quarter. Executives said the drop in profits will force the closure of more than 700 locations by the middle of 2025. On a post-earnings call with analysts, Advance Auto Parts executives told analysts its quarterly results were also impacted by hurricanes and the outage, The company said fewer consumers are opting to repair their cars, so it will introduce a new three-year financial plan in an effort to revive its struggling business. How many Advance Auto Parts stores are there? 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,
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News
- Advance Auto Parts to close hundreds of stores, shut down West Coast operations [Yahoo! Finance]Yahoo! Finance
- Advance Auto Parts to close hundreds of stores, shut down West Coast operations [Los Angeles Times (CA)]Los Angeles Times
- More layoffs hit freight-related companies across US [Yahoo! Finance]Yahoo! Finance
- Bay Area stores among Advance Auto Parts closures: WARN notices [Yahoo! Finance]Yahoo! Finance
- Advance Auto Parts issues 'employee separations,' distribution center to close March 2025 [Yahoo! Finance]Yahoo! Finance
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- 11/14/24 - Miss
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