Advance Auto Parts shutting 500 stores, cutting jobs as fewer opt to repair cars
Advance Auto shares gave up early gains and closed at $41.20, up 0.6%. The stock has fallen 32% this year
By News on the Net -- New York Post—— Bio and Archives--November 14, 2024
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Advance Auto Parts said Thursday it will close about 500 stores by mid-2025 and cut some jobs under a restructuring effort, as demand for vehicle parts takes a hit from fewer consumers opting to repair their cars.
The automotive industry has had a difficult second half of the year, burdened by inflationary headwinds and stiff competition from Chinese automakers putting out affordable yet feature-packed vehicles. ---More...
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