Advance Auto Parts closing 50 stores

Friday, August 14, 2015
By Paul Martin

Amanda Hoyle
Aug 13, 2015

Advance Auto Parts Inc. (NYSE: AAP) beat analysts’ estimates, finishing out the second quarter with nearly $150 million in profit, or about $2.27 per share, compared to an average analyst estimate of $2.25 per share, according to reports to Yahoo Finance.

Advance Auto also announced on Thursday through its second-quarter earnings report that it will be closing 50 stores before the end of the year in markets across the U.S. A list of the locations that would be closing, however, was not available.

On Monday, the company announced it would be laying off about 100 employees spilt between the company’s headquarters in Roanoke, Virginia, and at its corporate office campus in Raleigh. Advance Auto will still have about 650 employees in Raleigh after the layoffs.

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