Advance Auto Parts Inc. plans to shut down over 700 locations.
“The company is executing a strategic plan to improve business performance with a focus on core retail improvements,” the company said on last Thursday. “The company has identified opportunities that it believes can improve adjusted operating income margin by more than 500-basis points through fiscal 2027.”
The strategy focuses on three main areas: shutting down stores, improving sourcing and merchandising decisions, and streamlining distribution by consolidating to 13 large centers by 2026.
A spokesperson for the company responded to inquiries about store closures in the Dayton area by sharing recent corporate press releases. As of Thursday afternoon, a list detailing specific closures was not accessible to the public.
Advance Auto Parts provides information on its website about local locations, including 5430 Springboro Pike, 434 Woodman Drive, 6450 Wilmington Pike, and 5737 N Dixie Drive. A Kettering location can be found at 1330 E Stroop Road. Englewood is located at 815 S Main St., as stated on the website.
The company has locations at 1751 S Limestone St., 660 N. Limestone, and 1831 E Main St. in Springfield.
Hamilton operates locations at 323 N Erie Highway and 1215 Main St.
In the results for the third quarter of 2024, the company reported net sales from continuing operations of $2.1 billion, a slight decrease from $2.2 billion in the same quarter of 2023. Sales at comparable stores fell by 2.3%.
The company reported an 11% rise in gross profit, reaching $907.9 million, which accounts for 42.3% of net sales, up from 36.9% in the same quarter last year.