When you need to replace your vehicle's air filters or headlights, a trip to Walmart or Big Lots isn't going to cut it. That's where retail chains like AutoZone and NAPA come in—these stores sell everything from motor oil and antifreeze to seat covers and window repair kits. And it looks like they might soon be getting more business, as one of the biggest competitors, Advance Auto Parts, just announced that it is closing at least 700 of its roughly 4,500 locations across the U.S.
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Advance Auto Parts will close hundreds of stores by mid-2025.
In November, Advance Auto Parts shared its third-quarter earnings, reporting $2.15 billion in net sales, "significantly below analyst expectations of $2.62 billion," reported Forbes. In addition, comparable-store sales fell by 2.3 percent.
Moreover, as USA Today noted at the time, third-quarter gross profits increased only 11 percent, compared to 37 percent during the same time last year.
The company cited this year's harsh hurricane season, the CrowdStrike outage, and fewer customers repairing their cars amid inflation as reasons for their losses.
Therefore, Shane O’Kelly, Advance Auto Parts president and CEO, said during a November earnings call, "We made the decision to close certain non-performing, non-strategic stores in the U.S. to better position our asset base for long-term, sustainable growth."
This includes four distribution centers, 523 corporate locations, 200 independent leased locations, and 24 independently owned locations—all of which are set to close by mid-2025 and generate between $350 and $750 million for the company.
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These are 24 of the locations that will soon close.
On Jan. 20, Forbes reported that Advance Auto Parts had retained "corporate recovery specialist Hilco Real Estate to handle the sale of its real estate assets."
Currently, Hilco has made public the 24 independently owned locations on the chopping block. The portfolio details specify that all of these freestanding locations are between 5,500 and 15,000 square feet and "benefit from high visibility and ease of access along strong commercial corridors."
They are the following locations:
Alabama
- Bay Minette: 101 McMeans Ave.
- Mesa: 1202 West University Dr.
- Phoenix: 3246 West Indian School Rd.
- Prescott Valley: 3484 North Glassford Hill Rd.
- Fort Smith: 2620 Rogers Ave.
California
- Cathedral City: 68-580 Ramon Rd.
Florida
- Clermont: 390 East Hwy. 50
- Fort Meyers: 3671 Cleveland Ave.
- Dublin: 111 Prince St.
Kansas
- Leavenworth: 2209 South 4th St.
Louisiana
- New Orleans: 2631 South Clayborne
- Battle Creek: 1405 Columbia Ave. West
- Wyoming: 1784 28th At. SW
Mississippi
- Greenville: 2818 Hwy. 82 East
- Jackson: 2020 Raymond Rd.
- Jackson: 205 West Northside Dr.
- Meridian: 2906 8th St.
- Picayune: 230 Memorial Dr.
North Carolina
- Greensboro: 5307 West Market St.
Texas
- Corpus Christi: 10765 Leopard St.
- McAllen: 1010 North 10th St.
- Weslaco: 154 North Texas Blvd.
Washington
- Lynnwood: 18327 Hwy. 99
Wisconsin
- Manitowoc: 3404 Calumet Ave.
All bids must be in by mid-March, so expect closures to commence sometime after that deadline. Best Life has reached out to Advance Auto Parts about the remaining locations set to close and will update this story with their response.
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What's next for Advance Auto Parts?
Until the sales go through, Advance Auto Parts has recouped some of its losses by selling automotive parts wholesaler Worldpac to global investment firm Carlyle for $1.5 billion in November, according to Forbes.
"We are pleased to have made progress on our strategic actions, including the completion of the sale of Worldpac and a comprehensive operational productivity review of our business,” said O’Kelly. “We are charting a clear path forward and introducing a new three-year financial plan, with a focus on executing core retail fundamentals to improve the productivity of all our assets and to create shareholder value."
