Advance Auto Parts plans to close more than 500 stores by 2025. Here's what to know about how Ohio is affected.

Advance Auto Parts announced Thursday it would attempt to cut company losses with the closure of over 700 locations across the US.

Advance Auto Parts announced on Thursday that it is closing at least 500 corporate stores by mid-2025, and exiting another 200 independent locations. The move comes as the company said in a release that its gross profit increased 11% in the third quarter of 2024 to $907 million compared to the same period a year ago.

Advance Auto Parts executives announced Thursday that the company planned to close hundreds of stores over the next several years,

Iowa has 37 Advance Auto Parts locations. Des Moines has the largest presence of stores in the state with six locations in the capital city and stores in Ankeny and Urbandale. Other locations include Ames, Coralville, Davenport and Iowa City, among others.

Advance Auto Parts’ stock falls after a quarterly loss, and release of a plan to close more than 500 company stores and four distribution centers.

Advance Auto Parts said it will close hundreds of stores and cut jobs after posting a surprising quarterly loss and forecasting revenue below market expectations.

As of October 5, 2024, Advance operated 4,781 stores primarily within the United States, with additional locations in Canada, Puerto Rico and the U.S. Virgin Islands. According to CNN, major chain stores are on track to close the highest number of stores in 2024 than in any year since 2020, when the pandemic decimated businesses.