A prominent auto retailer will eliminate 700 locations in the coming months, and customers may have to shop elsewhere.
This move comes as part of efforts to improve sales performance after recent declines.
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Shane O'Kelly, president and CEO of Advance Auto Parts, confirmed the mass closure plan while speaking to investors about third-quarter results, in a press release issued Thursday.
“We are charting a clear path forward and delivering a new three-year financial plan, with a focus on executing core retail fundamentals to improve the productivity of all our assets and create shareholder value,” O'Kelly noted.
The CEO stressed that the closures were part of the “strategic plan to improve business performance.”
Advance Auto Parts currently has approximately 4,700 stores nationwide.
Read more about store closures
With the closures, 523 Advance Auto Parts locations will close, along with 204 stand-alone stores and four distribution centers, according to the release.
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