🛑 Advance Auto Parts Slams the Brakes on 700 Stores: What It Means for Independent Shops 🛑

Heads up, shop owners: Advance Auto Parts just announced plans to close 700 stores and four distribution centers by mid-2025, alongside posting a third-quarter loss of $6 million.

The culprit? Weak consumer demand for car parts as inflation and economic pressures take a toll. If fewer customers are willing to spend on DIY repairs, this might trickle down to independent repair shops like yours.

The numbers don’t look great. Despite narrowing its loss from last year's $62 million deficit, the company missed Wall Street’s expectations big time, and sales slid 3% to $2.15 billion. CEO Shane O'Kelly is doubling down on a new three-year game plan to boost efficiency, but with shares at 15-year lows and competition ramping up from low-cost Chinese automakers, it's a bumpy road ahead.

All this raises the question: Are you seeing slower business in your shop? Have customers been holding back on repairs due to rising costs?

We’d love to hear what’s happening on the ground.

Drop your comments below or shoot us a message—your insights are invaluable as we all navigate these choppy economic waters.

Here's a link to the original article:

https://www.zerohedge.com/markets/advance-auto-cuts-outlook-prepares-700-store-closure

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