-
Welcome to Auto Parts Forum
Whether you are a veteran automotive parts guru or just someone looking for some quick auto parts advice, register today and start a new topic in our forum. Registration is free and you can even sign up with social network platforms such as Facebook, X, and LinkedIn.
NASCAR’s Home Tracks Battle For $50,000 In Advance Challenge
-
Similar Topics
-
By Counterman
Advance Auto Parts announced it has completed the store closure phase of its transformation plan and is entering its next phase of returning to growth. The company said optimization of the retail footprint was key to Advance’s broader transformation plan to reposition the company for long-term success. Now, more than 75% of the company’s stores are in markets where the company has the No. 1 or No. 2 position based on store density, strengthening its presence in strategic communities.
With that phase complete, Advance said it now expects to open 30 new locations in the United States in 2025 and at least an additional 100 new locations through 2027, including larger “market hubs.”
Since the beginning of this year,
link hidden, please login to view has opened six new stores in Florida, New Jersey, Tennessee and Virginia. Over the next several months, the company said it expects to open additional stores to serve customers across communities in Florida, Illinois, Maryland, Ohio, Virginia and Wisconsin. Advance added it is also continuing the expansion of market hubs with new openings soon in the Midwest. These larger stores will increase availability of parts by placing approximately 75,000 to 85,000 SKUs closer to customers and other local Advance stores, as well as improve Advance’s speed of service with same-day delivery of parts. By comparison, typical Advance stores carry between 20,000 to 25,000 SKUs.
“Advance Auto Parts is on the path to accelerate store growth and focused on the fundamentals of selling auto parts,” said
link hidden, please login to view. “We are excited about what’s to come for Advance. Our team members are committed to providing the right parts and the right service for our PRO and DIY customers in their communities.” In addition to new store openings, Advance said it is creating a better customer experience. The company’s previously announced incremental capital expenditure plan includes additional investments in existing stores related to IT infrastructure, equipment, store repairs, and improved inventory and delivery. The company said it is also providing additional training to team members to enhance customer experience.
The post
link hidden, please login to view appeared first on link hidden, please login to view.
link hidden, please login to view -
By Advance Auto Parts
Leading automotive aftermarket parts provider also investing to improve customer experience, increase parts availability and speed of service with same-day delivery
RALEIGH, N.C.--(BUSINESS WIRE)-- Advance Auto Parts, Inc. (NYSE: AAP), a leading automotive aftermarket parts provider in North America that serves both professional installer and do-it-yourself customers, announced today that it has completed the store closure phase of its transformation plan and is entering its next phase of returning to growth.
Optimization of the retail footprint was key to Advance’s broader transformation plan to reposition the company for long-term success. Now, more than 75% of the Company’s stores are in markets where the company has the No. 1 or No. 2 position based on store density, strengthening its presence in strategic communities.
With that phase complete, the Company now expects to open 30 new locations in the United States in 2025 and at least an additional 100 new locations through 2027, including larger “market hubs.”
Since the beginning of this year, Advance has opened six new stores in Florida, New Jersey, Tennessee and Virginia. Over the next several months, the company expects to open additional stores to serve customers across communities in Florida, Illinois, Maryland, Ohio, Virginia and Wisconsin.
Advance is also continuing the expansion of market hubs with new openings soon in the Midwest. These larger stores will increase availability of parts by placing approximately 75,000 to 85,000 SKUs closer to customers and other local Advance stores, as well as improve Advance’s speed of service with same-day delivery of parts. By comparison, typical Advance stores carry between 20,000 to 25,000 SKUs.
“Advance Auto Parts is on the path to accelerate store growth and focused on the fundamentals of selling auto parts,” said Shane O’Kelly, president and chief executive officer. “We are excited about what’s to come for Advance. Our team members are committed to providing the right parts and the right service for our PRO and DIY customers in their communities.”
In addition to new store openings, Advance is creating a better customer experience. The Company’s previously announced incremental capital expenditure plan includes additional investments in existing stores related to IT infrastructure, equipment, store repairs and improved inventory and delivery. Advance is also providing additional training to team members to enhance customer experience.
About Advance Auto Parts
Advance Auto Parts, Inc. is a leading automotive aftermarket parts provider that serves both professional installers and do-it-yourself customers. As of December 28, 2024, Advance operated 4,788 stores primarily within the United States, with additional locations in Canada, Puerto Rico, and the U.S. Virgin Islands. The company also served 934 independently owned Carquest branded stores across these locations in addition to Mexico and various Caribbean islands. Additional information about Advance, including employment opportunities, customer services, and online shopping for parts, accessories and other offerings can be found at
link hidden, please login to view. Forward-Looking Statements
Certain statements herein are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are usually identifiable by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast, “guidance,” “intend,” “likely,” “may,” “plan,” “position,” “possible,” “potential,” “probable,” “project,” “should,” “strategy,” “target,” “will,” or similar language. All statements other than statements of historical fact are forward-looking statements, including, but not limited to, statements about the Company’s strategic initiatives, restructuring and asset optimization plans, store and location opening plans, operational plans and objectives, and statements regarding expectations for future business and financial performance, as well as statements regarding underlying assumptions related thereto. Forward-looking statements reflect the Company’s views based on historical results, current information and assumptions related to future developments. Except as may be required by law, the Company undertakes no obligation to update any forward-looking statements made herein. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statements. They include, among others, the Company’s ability to hire, train and retain qualified employees, the timing and implementation of strategic initiatives, risks associated with the Company’s restructuring and asset optimization plans, deterioration of general macroeconomic conditions, geopolitical factors including increased tariffs and trade restrictions, the highly competitive nature of the industry, demand for the Company’s products and services, risks relating to the impairment of assets, including intangible assets such as goodwill, access to financing on favorable terms, complexities in the Company’s inventory and supply chain and challenges with transforming and growing its business. Please refer to “Item 1A. Risk Factors” of the company’s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”), as updated by the company’s subsequent filings with the SEC, for a description of these and other risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statements.
link hidden, please login to view -
By Counterman
The Meineke Dealers Purchasing Cooperative Inc. (MDPCI) announced Advance Professional as the winner of the 2024 Vendor of the Year Award. Advance has been a member of the Meineke Dealers Purchasing Co-op (MDPCI) for many years.
Over the past few years, the program has grown at unprecedented rates, MDPCI said. The MDPCI Vendor of the Year is determined based on several factors, with one being survey results from the Meineke dealer group. In addition to non-subjective categories that are measured, the dealer survey is based on criteria ranging from the cost and quality of parts and services, to vendor support, to the overall ease of working with the vendor. Selection for this award is a testament to the commitment
link hidden, please login to view has made to the MDPCI program and Meineke Dealers throughout the US and Canada, according to MDPCI. Ron Soto, executive director of the MDPCI, said, “The growth of our program with Advance and their support of our efforts has been tremendous over the past year. It is a testament to the true partnership they have provided our dealers and the delivery of the commitment they made to the MDPCI to help increase profitability of the Meineke Service Centers nationwide. Advance has developed an exceptional program working with the MDPCI as partners and helped Meineke dealers across the country. We look forward to continued growth in 2025 and beyond.”
Upon receiving the award, Pete Masini, Advance director of strategic accounts, said, “On behalf of the entire Advance/Carquest Professional team that supports Meineke Dealers every single day, I’d like to express how honored we are to be named ‘Vendor of the Year’ for Meineke Dealers throughout the U.S. and Canada in 2024. Moments like this do not typically happen by accident, and it takes an effort on both sides to build partnerships like the ones we have with our Meineke partners. Our relationship has been a journey to reach this point, and every day, more and more Meineke dealers are giving
link hidden, please login to viewProfessional the opportunity to earn their business. Thank you for your support. Our promise is to continue our passion for providing you with industry-leading service that you can rely on, quality parts, solutions to support your business growth, and a partnership to last for many years to come.” The post
link hidden, please login to view appeared first on link hidden, please login to view.
link hidden, please login to view -
-
-
By Counterman
Advance Auto Parts announced that it has appointed Jeff Vining as executive vice president, general counsel and corporate secretary, effective March 2, 2025. In this role, the company said Vining will be responsible for all aspects of the Advance’s legal, corporate governance and compliance functions. Vining will report directly to Shane O’Kelly, president and chief executive officer.
The company added that Tammy Finley, who currently serves in this role, is retiring and will stay with Advance in an advisory capacity to support the transition. Finley spent 27 years at Advance in the legal, human resources and communications functions.
link hidden, please login to viewsaid she was vital in leading the company through almost three decades of growth and change management, and, most recently, the divestiture of the Worldpac business. “Jeff’s experience in supporting successful business transformations and driving efficiencies is critical for the success of our strategic action plan,” O’Kelly said. “We are thankful for Tammy’s many contributions over the years along with her passion for Advance and our team members. We wish her all the best as she retires.”
A news release from
link hidden, please login to view explained that Vining brings more than 20 years of deep legal expertise within publicly traded companies, including key areas such as corporate governance, M&A, risk management, labor and employment, and litigation. Most recently, he served as general counsel and secretary at Unifi, Inc., where he was responsible for the company’s global legal functions and ensuring compliance with corporate governance requirements. Vining received his Doctorate of Jurisprudence at the University of Richmond School of Law in Richmond, Virginia, and his Bachelor of Science from James Madison University in Harrisonburg, Virginia.
The post
link hidden, please login to view appeared first on link hidden, please login to view.
link hidden, please login to view
-
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.