The company announced this news in a report published this week. third quarter report The report, released Thursday, Nov. 14, also reported an adjusted loss per share of 4 cents, compared to a loss of $1.19 a year ago.

Here’s what else you need to know.

How many Advance Auto Parts stores are closing?

Although managers have not yet announced which stores will close, we know this from a source. regulatory filing He said the company plans to close 523 corporate stores, abandon 204 independent stores and close four distribution centers.

The auto parts supplier’s gross profit rose 11% in the third quarter of this year; This rate was down from an increase of approximately 37% in the third quarter of last year. Therefore, these closures are planned to be completed by mid-2025.