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Advanced Auto Parts is currently plotting expansions.
The automotive aftermarket parts provider said Wednesday that it would “enter the next phase of returning to growth,” and plans to launch 30 new stores in the US this year.
The company says over the long term until 2027, Advance Auto Parts is looking to add 100 locations, including a larger “Market Hub” store.
Shenandoah, PA, USA – 2025/01/29: Exterior of advance automotive parts in Shenandoah, PA. Advance Auto Parts, Inc. is an aftermarket automobile parts provider with over 4,700 stores. (Photo: Pau) (Paul Weaver/SOPA Images/Lightrocket bygetty Images/Getty Images)
“Advance Auto Parts is on the road to accelerate store growth and focuses on the fundamentals of selling auto parts,” CEO Shane O'Kelly said in a statement. “We're excited to see what's coming to move forward.”
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According to Advance Auto Parts, the expansion comes after successful “the store closure phase of the conversion plan has been completed.”
The company said it would close more than 700 locations in November (of which more than 500 were corporate stores and four distribution centres closed. The move stemmed from a three-year “strategic plan” aimed at “improving business performance” for advance automotive parts.
Close hundreds of locations following ongoing performance of automatic parts
Measures in the company's strategic plan include “standardizing store operational models” and “strategic sourcing to improve initial costs and bring parts to market faster.”
| Ticker | safety | last | change | change % |
|---|---|---|---|---|
| AAP | Advance Auto Parts Inc. | 38.95 | -1.42 |
-3.52% |
Advance Auto Parts said Wednesday that more than 75% of the locations are “in a market in which the company has a No. 1 or No. 2 position based on store density, and in a market that strengthens its presence in the strategic community.”
The company said it will debut new stores in Florida, Illinois, Maryland, Ohio, Virginia and Wisconsin in the next few months. Since its launch in 2025, six new Advance Auto Parts stores have been launched in Florida, New Jersey, Tennessee and Virginia.
The pickup truck is reflected in the windows of the Advance Auto Parts Inc. store in Phoenix, Arizona, USA on Monday, February 19th, 2018. Advance Auto Parts is scheduled to announce its return rate on February 20th. Photographer: via Caitlin O'hara/Bloomberg (Caitlyn O'Hara / Bloomberg via Getty Images / Getty Images)
As part of the expansion, the new “market hub” will “come to the Midwest soon” soon, according to Advance Auto Parts. Kelly previously said in a fourth quarter revenue call in February that he hopes to have 60 new “market hubs” midway through 2027.
The “market hub” is bigger and larger than regular stores. They “will bring about 75,000 to 85,000 Skus closer to customers and other local advance stores, improving parts availability and Advance's speed of service for same-day delivery,” the company said.
WASHINGTON, DC-August 22: Pre-auto parts locations will be seen on August 22, 2024 at Tacoma Park, Maryland. Advance Auto Parts has announced the sale of its $1.5 billion in cash to WorldPac subsidiary Carlyle Group as part of Continu. (Tierney L. Cross / Getty Images / Getty Images)
Advance Auto Parts sells a variety of vehicle parts, batteries, accessories, chemicals and engine maintenance items.
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During 2024, the company generated net sales of $9.09 billion. Meanwhile, comparable store sales recorded a 0.7% decline due to the overall softness of the consumer spending environment, driven by a slowdown later this year and including postponements and spending on maintenance items seen throughout the industry in 2024.
The annual net loss in 2024 was $335.79 million.
