OHIO — Advance Auto Parts announced Thursday that it plans to close more than 700 stores as part of a broader strategy to streamline operations and focus on core retail improvements. 

The decision was disclosed during the company’s latest earnings call.

The closures, which will impact around 500 corporate-owned stores and 200 independently-owned locations, are expected to be completed by mid-2025. 

However, the company has not yet revealed which specific locations will be shuttered.

As of October 5, 2024, Advance Auto Parts operated 4,781 stores across the United States, with additional outlets in Canada, Puerto Rico, and the U.S. Virgin Islands.

This move comes amid a challenging retail environment, with 2024 on track to see the highest number of store closures since 2020, according to CNN. 

The pandemic-triggered downturn in 2020 led to widespread retail closures, and many major chains are now struggling to adapt to shifting consumer habits and economic pressures.

Advance Auto Parts’ decision highlights ongoing challenges in the automotive retail sector as companies seek to improve efficiency and profitability.