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Advance Auto Parts now traces an expansion.
The supplier of automotive spare parts said on Wednesday that it “entered its next growth phase” with plans to launch 30 new stores in the United States this year.
According to the company, in the longer term until 2027, the Auto Parts are looking to add 100 additional locations, including more department stores “Hub Market Hub”.
Shenandoah, Pennsylvania, United States – 2025/01/29: Outdoor view of an automobile parts store in Shenandoh, Pennsylvania. Advance Auto Parts, Inc. is a supplier of automotive spare parts which operates more than 4,700 stores. (Photo of Pau (Paul Weaver / Sopa Images / Lightrocket via Getty Images / Getty Images)
“Advance Auto Parts is on the way to accelerating store growth and focused on the fundamental principles of the sale of automotive parts,” CEO Shane O’Kelly said in a press release. “We are delighted with what will happen for the advance.”
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According to expansion, the Auto Parts, comes after having managed to “finish the closing phase of the store of its transformation plan”.
The company said in November that it would close more than 700 locations – including more than 500 business stores – and would close four distribution centers. This decision was born from a three -year “strategic plan” which aims to “improve business performance” for advanced automotive parts.
Advance auto parts closes hundreds of locations after slow performance
The measures of the company’s strategic plan include the “standardization of the store operating model” and “strategic supply to improve the first costs and bring parts to the market faster”, among others, according to the company.
| Teleprinter | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAP | Advance Auto Parts inc. | 38.95 | -1.42 |
-3.52% |
Advance Auto Parts said on Wednesday that more than 75% of its locations are now “on the markets where the company has position n ° 1 or n ° 2 depending on the density of stores, strengthening its presence in strategic communities”.
He will make his debut on new stores in Florida, Illinois, Maryland, Ohio, Virginie and Wisconsin in the coming months, “six new Auto Parts stores have been launched in Florida, New Jersey, Tennessee and Virginia since the beginning of 2025.
A van is reflected in the window of an Advance Auto Parts Inc. store in Phoenix, Arizona, United States, Monday, February 19, 2018. Advance Auto Parts is expected to publish profits on February 20. Photographer: Caitlin O’Hara / Bloomberg via via via gains (Caitlin O’Hara / Bloomberg via Getty Images / Getty Images)
As part of the expansion, the new “market hubs” should come soon to the Midwest “, according to Advance Auto Parts. Kelly previously declared during the call for results of the fourth quarter of the company in February that the company wanted to have 60 new” market hubs “by mid-term until 2027.
Its “market centers” are much larger than its normal stores. They “increase the availability of parts by placing around 75,000 to 85,000 references closer to customers and other local advances in advance, as well as to improve the speed of advice with the delivery of parts the same day,” said the company.
Washington, DC – August 22: A location in advance on automotive parts is visible on August 22, 2024 in Takoma Park, Maryland. Advance Auto Pares has announced the sale of its WORLDPAC subsidiary to the Carlyle group for 1.5 billion dollars in cash, as part of its continuous (Tierney L. Cross / Getty Images / Getty Images)
Advance Auto Parts sells various vehicle parts, batteries, accessories, products and engine maintenance items.
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During 2024, the company generated $ 9.09 billion in net sales. Sales of comparable stores, on the other hand, displayed a 0.7% drop that the financial director Ryan Grimsland said “motivated by deceleration in the second half and attributed to the overall sweetness of the consumer spending environment, including screening and expenses for maintenance articles, as seen in the industry in 2024.”
Its annual net loss for 2024 was $ 335.79 million.
