Advance Auto Parts is closing more than 700 locations

By Free Republic | Created at 2024-11-14 23:03:09 | Updated at 2024-11-22 20:06:03 1 week ago

Advance Auto Parts is closing more than 700 locations
CNN ^ | November 14, 2024 | Jordan Valinsky

Posted on 11/14/2024 2:54:40 PM PST by rdl6989

New York CNN —

Advance Auto Parts is closing more than 700 locations to shore up the company’s finances following another dismal earnings report.

The car parts retailer, which has about 5,000 stores, said Thursday that the closures are part of its “strategic plan to improve business performance.” Advance Auto Parts (AAP) shares slid nearly 5% in premarket trading after it reported earnings that missed analysts’ expectations.

The reduction will result in closing roughly 500 corporate-owned stores plus about 200 independently operated locations. The company did not immediately provide a full list of locations set to close.

(Excerpt) Read more at cnn.com ...

TOPICS: Business/Economy; Miscellaneous
KEYWORDS: advanceautoparts

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But the economy under Biden has been so great. Isn't that what CNN has been telling us?

1 posted on 11/14/2024 2:54:40 PM PST by rdl6989

To: rdl6989

AutoZone and OReilly vs Advance AP

2 posted on 11/14/2024 2:58:37 PM PST by linMcHlp

To: rdl6989

My first thought is “now the kids that don’t know anything, will have to find another job.”

3 posted on 11/14/2024 3:00:58 PM PST by PeterPrinciple (Thinking Caps are no longer being issued but there must be a warehouse full of them somewhere.)

To: rdl6989

Another Chinese store front. Keep your car long enough all the spare parts are Chinese.

4 posted on 11/14/2024 3:01:49 PM PST by central_va (I won't be reconstructed and I do not give a damn...)

To: linMcHlp

RockAuto.com has been slamming the crap out of brick and mortar stores the last few years.

5 posted on 11/14/2024 3:02:19 PM PST by waterhill (I Believe! Eph. 5:11. God Bless Israel.)

To: PeterPrinciple

6 posted on 11/14/2024 3:02:49 PM PST by waterhill (I Believe! Eph. 5:11. God Bless Israel.)

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