Advance Auto Parts said Thursday that it plans to close more than 700 stores after the auto parts retailer recorded a surprise quarterly loss.

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.

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.

NEW YORK — Advance Auto Parts is closing more than 500 stores and shedding another 200 independent locations as part of its efforts to revive its struggling business.

Advance Auto Parts is closing over 700 locations nationwide by mid-2025 due to underperforming sales, according to the company's third quarter earnings report released on Nov. 14. The automotive parts retail chain has not yet announced which stores will be closing,

A news release from Advance Auto Parts said the closures include 523 Advance corporate stores, 204 independent locations and four distribution centers.

Advance Auto Parts, a major supplier of aftermarket replacement parts and accessories, announced plans to shutter over 700 stores by mid-2025.

Advance Auto Parts operates 4,781 stores, most in the U.S. It relocated from Roanoke, Virginia, to Raleigh in 2018 after North Carolina and local governments offered the company a combined $12 million in economic incentives. As part of the deal, the maker of aftermarket auto parts pledged to create 435 new jobs at its new corporate home.

Shares of Advance Auto Parts Inc. pulled a sharp early U-turn to trade higher Thursday, after the company laid out its plan to return to sales growth and to boost margins, including by closing more than 700 store locations.

Advance Auto Parts announced that it will close over 700 locations, including corporate stores and independently-owned locations, as part of a financial restructuring effort.