Advance Auto Parts is closing over 500 stores, including nine in Oregon, as part of a strategic plan to improve its struggling business. The closures, which also include four distribution centers and 204 independent locations, are expected to impact 96 employees in Oregon. Despite these reductions, the company plans to accelerate new store openings and standardize operations. Advance Auto reported a $6 million loss in Q3 and has lowered its full-year revenue outlook. The company recently sold its Worldpac business for $1.5 billion to Carlyle.
Advance Auto Parts is closing over 700 stores across the U.S., including 523 corporate stores and 204 independent locations, as part of a strategic plan to improve business performance amid an uncertain macroeconomic climate. The company has also lowered its full-year outlook for the second consecutive quarter. This move is part of a broader trend in the retail sector, which has seen a significant increase in store closures this year due to economic pressures and changing consumer behavior.
American Freight is closing all 328 of its stores nationwide as part of Chapter 11 bankruptcy proceedings by its parent company, Franchise Group Inc. The company is offering significant discounts on its inventory, including furniture and appliances, as it winds down operations. Franchise Group, which also owns brands like Pet Supplies Plus and The Vitamin Shoppe, is undergoing restructuring to strengthen its capital structure. Despite the closures, other brands under Franchise Group will continue operations.
Major grocery stores and pharmacies have modified hours for New Year's Eve and New Year's Day. Wegmans will close at 8 p.m. on New Year's Eve and reopen at 6 a.m. on New Year's Day. Tops Friendly Markets, Whole Foods, and Price Rite have similar schedules with early closures on New Year's Eve and varied opening times on New Year's Day. ALDI will close at 7 p.m. on New Year's Eve and remain closed on New Year's Day, while Trader Joe's will close at 5 p.m. on New Year's Eve and also be closed on New Year's Day. Costco will shut at 6 p.m. on New Year's Eve and be closed on New Year's Day. Walmart will maintain normal business hours. CVS, Walgreens, and Rite Aid pharmacy hours will vary, and customers are advised to check online or call ahead for specific store hours.
