Advance Auto Parts is shutting down over 500 corporate stores and 200 independent locations in a major effort to improve its struggling business performance.
The North Carolina-based company's decision follows a $6 million loss in Q3 and aims at streamlining operations through store closures and improved supply-chain management.
Despite the closures, Advance Auto plans to 'accelerate the pace of new store openings' and implementing a standardized operating model to enhance future growth.
The company has experienced declining sales since the start of the year, prompting it to lower its full-year revenue outlook for the second time.
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