Advance Auto Parts plans to close over 700 stores to improve finances after earnings slump.

Advance Auto Parts plans to close over 700 locations to boost its finances, following a disappointing earnings report. The closures will include around 500 corporate-owned stores and 200 independently operated locations. The company has been working on a turnaround plan to reverse declining sales and return to profitability. This year, major retailers have announced more store closures than last year, reflecting challenges in the retail sector due to rising prices and interest rates.

November 14, 2024
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