Advance Auto Parts to Close 731 Stores as Part of Asset Optimization Program; Sees Fiscal Year 25 Revenue in the View Below

WASHINGTON (dpa-AFX) – Following the completion of a comprehensive review of operational productivity, Advance Auto Parts on Thursday announced an Asset Optimization Program that aims to reduce 523 advanced corporate stores, exit 204 independently owned locations and close four distribution centers by mid-semester. 2025.

The company is executing a strategic plan to improve business performance and has identified opportunities that it believes can increase adjusted operating income margin by more than 500 basis points by fiscal 2027 by focusing on key retail improvements.

Looking ahead to fiscal 2025, the company expects net sales to be in the range of $8.4 billion to $8.6 billion, with a comparable increase in sales of 0.5 to 1.5 percent.

Six analysts surveyed by Thomson Reuters expect the company to report sales of $9.23 billion on average for the year.

The company projects net sales of approximately $9.0 billion through fiscal 2027, with sales growth in the low single digits.