Advance Auto Parts to close in January

Over 700 locations expected to close nationwide, including West Memphis branch

By DON WILBURN

donaldfwilburn@gmail.com

Advance Auto Parts is closing more than 700 locations nationwide, including its West Memphis store #4715, in a bid to strengthen its finances following a disappointing earnings report. The company, which operates approximately 5,000 stores, made the announcement as part of a larger effort to improve its business performance.

Kia Lovejoy, the General Manager of the West Memphis location, shared the news on social media, confirming that the store will close in January 2024. She expressed her gratitude to loyal customers and her sadness over the closure.

“First I want to say thank you to those who have been long time customers and allowed me and my team to help you over the years since I became Manager at Advance Auto,” Lovejoy wrote. “I’ve had some folks reach out asking if our store is closing and the answer is yes. 700 stores shut down and mine is one of them. I am definitely going to miss all the shenanigans and regulars that come through on a weekly basis for parts or even just to check on us.”

The closure is part of a broader plan to shut down approximately 500 corporate- owned locations and 200 independently operated stores. Advance Auto Parts did not immediately release a full list of affected locations.

This move follows another dismal earnings report for the retailer, which saw its shares drop nearly 5 percent. The company, which has struggled with declining sales, also lowered its full-year outlook for the second consecutive quarter, citing “an uncertain macroeconomic climate” affecting consumer spending.

The nearly century-old company has been working on a turnaround plan, including selling its Worldpac division, an automotive parts wholesaler, for $1.5 billion. The move is part of an effort to simplify the company’s business model and return to profitability.

Although Lovejoy could not be reached for comment by phone, her initial post indicated the West Memphis store will officially close its doors in a little over two months on January 29, 2024.