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 is closing more than 500 stores and shedding another 200 independent locations. The announcement came as the struggling car parts retailer posted disappointing quarterly results.

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 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,

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

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

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.