One of the biggest auto parts retailers in the United States, Advance Auto Parts, has revealed a significant reorganization plan that would result in the closure of almost 700 locations across the country.
Four distribution centers, 200 individually run stores, and 500 corporately controlled outlets will all be impacted by the closure.
This decision is the result of a strategy change to increase profitability and streamline operations as a result of the company’s deteriorating sales and financial losses.
The restructure, which was first revealed in November 2023, intends to maximize resources, improve productivity, and raise shareholder value.
New York Store Closures: What You Should Know
At the moment, Advance Auto Parts has 4,700 outlets nationwide, including more than 200 in the state of New York.
The corporation has already closed at least seven stores in New York, affecting Buffalo, Rochester, Schenectady, and Staten Island, though a complete list of closures has not yet been made public.
The financial impact of these closures is substantial, according to USATODAY.
The business had net sales of $2.0 billion in Q4 2024, a 0.9% decrease from the year before.
With the exception of the stores that will be closed as part of this reorganization plan, comparable store sales fell by 1%.
Not Tokyo or Dubai: New Reports Revealed the Richest City in the World? – It’s Right Here in the US!
New York Store Closures Confirmed
The following Advance Auto Parts shops in New York have already closed, according the company’s website:
- Buffalo: 1833 Elmwood Ave
- Port Chester: 10 Mill St
- Rochester: 1028 N Clinton Ave
- Rochester: 1460 W Ridge Rd
- Schenectady: 1225 Curry Rd
- Staten Island: 2060 Forest Ave
The long-term viability of Advance Auto Parts depends on these strategic actions, according to Shane O’Kelly, president and CEO.
With a new three-year financial plan centered on increasing productivity, strengthening core retail operations, and providing more value to shareholders, we are clearly laying out our future course, O’Kelly said.
Is Your Social Security Check at Risk? What You Need to Know for April 2025!
Customers and staff alike must deal with uncertainty as the business makes this significant transformation.
Customers who depend on Advance Auto Parts for motor oil, batteries, and other necessities for their cars may have to make longer trips to the closest location or look for other options as a result of these closures.
Leave a Comment