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Advance Auto Parts

Advance Auto Parts, Inc. is a leading American parts provider that supplies replacement parts, accessories, batteries, and maintenance items to both professional installers and do-it-yourself (DIY) customers. Headquartered in , the company was founded on April 29, 1932, by Arthur Taubman, who acquired existing retail locations during the to meet the growing need for vehicle maintenance. As of October 4, 2025, Advance Auto Parts operates 4,297 stores primarily in the United States, with additional locations in , Puerto Rico, and the Virgin Islands, making it the third-largest auto parts retailer in the U.S. The company employs approximately 63,000 people (2024) and generates revenue through its retail stores, online platform (AdvanceAutoParts.com), and wholesale distribution to professional service centers via brands like and Worldpac. Over its history, Advance has grown through strategic acquisitions, including the 2013 merger with General Parts International (owner of ), expanding its network and product offerings to include over 1.5 million parts for various makes and models. Today, it emphasizes digital tools, such as its for parts lookup and ordering, alongside in-store services like loaner programs and , to support owners in routine and repairs.

History

Founding and early development

Advance Auto Parts traces its origins to April 29, 1932, when Arthur Taubman, a 31-year-old entrepreneur born in , in 1901 to Austro-Hungarian immigrants, acquired three struggling auto parts stores from the chain—two in , and one in . Taubman, who had previously worked in retail in , pawned personal items including his engagement ring to finance the $8,000 purchase, renaming the operation Advance Stores Company, Inc., and establishing its headquarters in Roanoke. Initially operating as a general auto supply business, the company quickly shifted its emphasis to aftermarket parts for passenger cars and light trucks, catering to the growing demand in the amid the . The economic challenges of the 1930s paradoxically fueled Advance's early expansion, as federal programs funded extensive road paving projects that increased vehicle usage and the need for repairs. Taubman capitalized on this by opening additional stores and acquiring small local competitors, growing the network to 15 locations across and by 1940. By the early , the company had reached 21 stores, maintaining a regional footprint in the Southeast while prioritizing quality parts from reputable manufacturers to build customer trust among individual drivers and small repair shops. Post-World War II prosperity accelerated growth in the 1950s, with Advance expanding to multiple stores throughout and adjacent states such as and , solidifying its dual emphasis on wholesale distribution to garages and direct retail sales to consumers. The company diversified slightly by offering installation services for items like tires and batteries alongside its core inventory, but remained focused on automotive essentials rather than branching into unrelated merchandise. This period marked the establishment of reliable supply chains with national vendors, enabling consistent stocking of parts for popular domestic vehicles. In the , Advance transitioned toward a more formalized model, standardizing store layouts, inventory management, and protocols to support scalable operations across its regional network. The "Advance" brand was firmly adopted as the unifying identity, reflecting the company's evolution from a collection of local outlets to a cohesive entity poised for broader influence in the sector. By the end of the decade, under the leadership of founder Arthur Taubman until his retirement in 1969, Advance had cultivated a loyal base in the Southeast, laying the groundwork for future national ambitions.

Key acquisitions and expansions

Advance Auto Parts pursued aggressive growth through strategic acquisitions beginning in the late 1990s, transforming it from a regional chain into a major national player in the industry. These moves significantly expanded its store footprint, diversified its market presence, and enhanced its product offerings, laying the foundation for its position as one of the largest retailers in the sector. In 1998, Advance Auto Parts acquired Western Auto Supply from , Roebuck & Co. for $175 million in cash plus the assumption of $300 million in debt, adding approximately 1,200 stores primarily in the Midwest and bolstering its presence in that region. This merger marked Advance's first major expansion beyond its East Coast base, integrating Western Auto's established network of parts and accessories outlets. The company continued its expansion in 2001 with two key mergers. First, in April, Advance acquired Carport Auto Parts, a 51-store chain operating in and , which strengthened its Southeast footprint. Later that year, in , it merged with Discount Auto Parts, Inc., a Florida-based retailer with 671 stores, for approximately $550 million; this deal increased the combined store count to approximately 2,420 locations across 38 states and provided a strong entry into the competitive market. These acquisitions were facilitated by Advance's on the under the ticker AAP, which began trading on November 29, 2001, and raised capital to support ongoing growth initiatives. A pivotal expansion occurred in when Advance Auto Parts acquired General Parts International, Inc. (GPI) in an all-cash valued at $2.04 billion, completed on 2. This deal integrated the Carquest brand, a network serving independent retailers, and expanded Advance's professional customer base by adding over 1,000 locations, including 38 distribution centers and more than 1,200 stores under various banners. The acquisition created the largest parts provider in at the time, with annual sales exceeding $9 billion. In 2019, Advance further enhanced its product portfolio by purchasing the DieHard battery brand from Transform Holdco LLC (formerly ) for $200 million in cash. This acquisition, announced on December 23, allowed Advance to offer the iconic DieHard line of batteries, chargers, and related accessories exclusively in its stores and online, capitalizing on the brand's long-standing reputation for durability.

Restructuring and recent challenges

In 2018, Advance Auto Parts announced its decision to relocate its corporate headquarters from Roanoke, Virginia, to Raleigh, North Carolina, aiming to access a larger pool of technology and business talent in the Research Triangle area. The move, which involved consolidating operations into a new facility in Raleigh's North Hills district, was completed in late 2020, creating approximately 435 new jobs over five years while retaining most Roanoke-based roles. The company faced leadership changes in 2023 amid ongoing operational pressures, appointing Shane O'Kelly as president and effective September 11, replacing Tom Greco. O'Kelly, previously CEO of , initiated a series of cost-cutting and efficiency initiatives, including overhead reductions and optimizations, to address declining profitability and competitive challenges in the sector. These efforts built on the scale achieved through prior acquisitions like General Parts in 2014, but shifted toward streamlining to counter market headwinds. A significant cybersecurity incident occurred in 2024 when unauthorized actors accessed a third-party between April 14 and May 23, compromising personal information of approximately 2.3 million current and former employees and job applicants, including names, Social Security numbers, and addresses. Advance Auto Parts detected the breach on May 23, promptly terminated the access, and notified affected individuals on July 10; in response, the company implemented enhanced cybersecurity measures, such as improved access controls and proactive monitoring to prevent future incidents. To sharpen its focus on core retail operations, Advance Auto Parts sold its Worldpac wholesale distribution subsidiary to funds managed by in August 2024 for $1.5 billion in cash, with the transaction closing on November 4 and yielding net proceeds of about $1.2 billion after taxes and fees. The divestiture simplified the company's structure, reduced complexity in its blended box model, and provided financial flexibility for investments in retail improvements and strengthening. In November 2024, as part of a broader asset optimization program, Advance Auto Parts announced plans to close 523 corporate-owned stores, exit 204 independently operated locations, and shutter four distribution centers by mid-2025, reducing its U.S. footprint by about 13%. This included the closure of all remaining stores—totaling over 90 locations—by March 2025, driven by sluggish demand, inflationary pressures, and underperforming sites. The restructuring is projected to incur total costs of $350 million to $750 million, covering severance, lease terminations, and asset impairments, while aiming to generate $150 million in annualized savings. By mid-2025, the company completed these closures and announced plans to open 30 new stores in 2025 and at least 100 additional locations through 2027, focusing on larger "market hub" formats to improve and parts availability. In November 2025, Advance opened its first such market hub store in .

Operations

Retail footprint and store strategy

As of October 2025, Advance Auto Parts operates approximately 4,300 company-owned stores under its Advance and brands across the and , reflecting a reduction from the 4,788 stores at the end of 2024 due to strategic closures aimed at improving profitability. This network includes around 4,065 Advance-branded locations in the U.S. alone, alongside a smaller number of owned stores targeting professional technicians, while the company serves roughly 814 independent retailers to support both do-it-yourself (DIY) customers and professional segments. Despite the net decline, the company opened 30 new stores in 2025 as part of its post-restructuring growth initiatives. A key element of the updated store strategy involves the rollout of larger "market hub" formats, which began in 2025 to enhance service in underserved markets, particularly in the Midwest. These bigger stores, often repurposed from big-box retail spaces, are designed to consolidate multiple smaller outlets and improve inventory access for faster fulfillment. Advance Auto Parts plans to add at least 100 such market hub locations through 2027, tripling the initial footprint to better align with regional demand and support same-day delivery capabilities. Supporting this retail network, the company's distribution infrastructure has been streamlined in , with the closure of four facilities as part of a broader from 38 centers to 12 larger hubs by 2026, prioritizing efficient for timely parts delivery. This optimization emphasizes core regional coverage, enabling enhanced support for both company stores and independent partners. Additionally, Advance Auto Parts completed its exit from full operations in by mid-2025, closing over 150 stores to redirect resources toward higher-performing eastern and central U.S. markets. The current footprint builds briefly on historical expansions, such as the 2014 acquisition of , which integrated professional-focused stores into the network.

Products, services, and supply chain

Advance Auto Parts offers a wide range of automotive aftermarket parts, including batteries, brakes, engines, tires, and accessories designed for cars, trucks, and SUVs. The company's battery lineup prominently features the DieHard brand, which it acquired in 2019 and which includes options like AGM batteries with validated recycled content to support sustainability. Brake components, such as pads, rotors, and calipers, are available in various materials like ceramic and metallic to suit different vehicle needs. Engine parts, tires, and accessories like performance kits and replacement hardware round out the inventory, catering to both maintenance and upgrades. The company provides key services to support its product offerings, including free in-store professional installation for items like batteries and wiper blades, as well as diagnostics for various systems. For do-it-yourself (DIY) customers, the Speed Perks allows members to earn points on purchases—such as 10 points per dollar spent—with bonus points on popular items and rewards redeemable for discounts, including gas savings at participating stations. Business-to-business (B2B) solutions are delivered through the Carquest brand and Advance Professional program, which supply parts and services to commercial fleets and independent repair shops, including dedicated support for rotating electrical, , and engine management components. Following the November 2024 sale of its Worldpac wholesale distribution unit to Carlyle for $1.5 billion, Advance Auto Parts has focused on enhancements to streamline operations and improve efficiency. These include consolidating distribution centers, closing underperforming facilities, and opening larger regional hubs to accelerate product delivery and reduce fulfillment times. The company has emphasized inventory optimization through these changes, aiming to minimize stockouts and achieve over 50 basis points in annualized cost savings starting in late 2025, while leveraging its store network to enable faster service delivery. Advance Auto Parts maintains a dual focus on professional (Pro) and DIY customer segments, with sales roughly split 50/50 between the two as of mid-2025. The Pro segment targets installers and fleets via specialized programs, while DIY customers benefit from accessible options. Digital tools enhance both segments, including online ordering for or in-store pickup, and integration with the for tracking rewards and locating parts. Sustainability efforts in the include programs for batteries and parts, offered free at stores to promote a . DieHard batteries incorporate closed-cycle recycled materials, validated by UL standards, reducing environmental impact through and waste minimization. These initiatives align with broader environmental goals outlined in the company's .

Corporate affairs

Leadership and governance

Shane O'Kelly serves as President and of Advance Auto Parts, having been appointed on September 11, 2023. Prior to this role, O'Kelly was CEO of , where he led the company's growth through acquisitions and operational improvements, bringing over 25 years of experience in retail and distribution to focus on turnaround strategies at Advance Auto Parts, including cost reductions and enhancements. The comprises 9 members as of 2025 and is chaired by Eugene I. Lee, Jr., who has served as chair since 2020 and emphasizes , with approximately 22% women members, alongside expertise in , , and technology sectors. The board oversees strategic direction, , and , with committees dedicated to , compensation, and nominating/ to ensure alignment with shareholder interests. The executive team includes Executive Vice President and Chief Financial Officer Ryan Grimsland, appointed in November 2023 after 17 years at Companies in finance and strategy roles, where he has prioritized debt management and capital structure optimization amid the company's restructuring efforts. In January 2025, Shweta Bhatia was appointed Executive Vice President and , bringing experience from and to drive digital transformation. In March 2025, Jeff Vining joined as Executive Vice President, , and Corporate Secretary. Advance Auto Parts upholds strong practices through its Code of Ethics and Business Conduct, which addresses ethical sourcing, measures, and standards applicable to all employees and suppliers. The company began annual reporting in 2020, detailing progress on environmental initiatives, , and transparency to stakeholders. In 2024, the board added tech-focused directors, such as Gregory L. Smith from , to bolster digital transformation and innovation strategies.

Headquarters and facilities

Advance Auto Parts' primary headquarters is located at 4200 Six Forks Road in , following a relocation from , announced in 2018 and completed with the opening of the Advance Auto Parts Tower in fall 2020. The facility occupies approximately 218,000 square feet within the 20-story, LEED Gold-certified tower, designed to support innovation in and technology-driven operations, housing over 1,400 corporate employees as of early 2025. The company maintains a legacy corporate office in , at 5008 Airport Road, which now serves as a store support center following the headquarters move. Additional regional facilities include distribution centers for oversight of supply chain operations, such as those in , (4701 Fulton Industrial Boulevard SW), and near , (Romeoville). As of late 2024, Advance Auto Parts employed approximately 62,800 associates, including 33,200 full-time and 29,600 part-time workers across its operations; this figure declined in 2025 amid the closure of over 500 stores and four distribution centers as part of a effort. The company's international presence remains limited, primarily consisting of stores in , , and the , with no major overseas corporate or distribution facilities. Corporate leadership is based at the Raleigh to centralize strategic decision-making.

Financial performance

Revenue and profitability trends

Advance Auto Parts experienced a decline in annual revenue from continuing operations in 2024, reporting net sales of $9.1 billion, a 1.2% decrease from approximately $9.2 billion in 2023, primarily due to softer demand in the do-it-yourself (DIY) segment and the impact of store optimization efforts. This marked a reversal from prior years' growth, which had been bolstered by key acquisitions expanding the company's footprint and (Pro) customer base. In early 2025, quarterly revenues continued to reflect these pressures, with Q1 net sales at approximately $2.6 billion, down from $2.8 billion in the prior-year period, implying gross profit of $1.1 billion at a 42.9% margin. By Q3 2025, net sales stabilized at $2.0 billion, a 4.8% decline year-over-year, though the company raised its full-year 2025 guidance to $8.55–$8.60 billion, signaling expected recovery through the segment. Profitability in 2024 was severely impacted, culminating in a net loss of $335.8 million and an adjusted operating income margin of just 0.4%, down from 0.6% in 2023, amid costs and adjustments. The company returned to profitability in Q2 2025, posting of $15 million and adjusted operating income of $61 million (3.0% margin), a slight improvement from 2.8% in the prior year, driven by cost controls and Pro business growth. This trend continued into Q3 2025, where adjusted operating income reached $90 million (4.4% margin), reflecting a targeted 200 basis points of expansion through efficiency gains, though GAAP net loss was minimal at $1 million. Full-year 2025 guidance anticipates an adjusted operating income margin of 2.4%–2.6%, underscoring ongoing margin recovery. Comparable store sales showed modest improvement in 2025, with Q3 growth of 3.0%, fueled by the professional segment, contrasting with flat to slightly positive results earlier in the year (0.1% in Q2). Key metrics further highlighted progress, including an adjusted of 44.8% in Q3 2025, up from 42.3% in the prior-year quarter, supported by strategic pricing and sourcing initiatives. Adjusted diluted for Q3 reached $0.92, surpassing analyst estimates by $0.18. These gains were partly offset by the revenue mix shift from closing approximately underperforming stores since late 2024, reducing the total to 4,297 locations by Q3 2025, though efficiency improvements mitigated the drag.

Major transactions and outlook

In August 2024, Advance Auto Parts announced the divestiture of its Worldpac wholesale distribution unit to funds managed by for $1.5 billion, which closed on November 4, 2024, with net proceeds of approximately $1.2 billion primarily directed toward reducing the company's debt load. To bolster liquidity in the face of ongoing uncertainties affecting the automotive , Advance Auto Parts issued $1.95 billion in senior notes in Q2 2025, comprising $975 million at 7.000% due 2030 and $975 million at 7.375% due 2033, while also entering a new $1.0 billion senior secured asset-backed facility to replace the prior arrangement. For 2025, the company reaffirmed its full-year guidance of negative $90 million to negative $80 million, supported by Q3 net sales of $2.0 billion that aligned with expectations and underscored stabilizing demand. Advance Auto Parts also outlined plans to open 30 new stores in 2025, expanding to 100 new locations through 2027, while targeting 2-3% annual comparable store sales growth to drive gains. Looking further ahead, Advance Auto Parts' long-term strategy emphasizes margin expansion initiatives projected to deliver 200 basis points of improvement in 2025 through cost optimizations and efficiencies, alongside a concerted effort to reduce leverage and achieve investment-grade credit status by 2027. Despite these proactive measures, the company's stock experienced a 15% decline in Q2 2025 due to concerns over potential escalations, though shares have risen approximately 6% year-to-date as of November 2025, reflecting confidence in the turnaround efforts.

Sponsorships and marketing

Motorsport partnerships

Advance Auto Parts has leveraged partnerships as a key strategy for brand promotion since the early , focusing on high-visibility series to connect with automotive enthusiasts. These sponsorships emphasize the company's role in supporting at grassroots and professional levels, aligning with its core offerings in auto parts and maintenance. In NASCAR, Advance Auto Parts serves as the title sponsor of the NASCAR Advance Auto Parts Weekly Series, a multiyear agreement that began in 2020 to highlight short-track racing across the United States and Canada. The company also acts as a primary sponsor for Team Penske's Ryan Blaney in the No. 12 Ford Mustang, with prominent branding on the vehicle for multiple races starting in 2023, including initiatives like the Advance My Track Challenge to support local tracks. The company maintained sponsorships in the National Hot Rod Association (NHRA), including support for Top Fuel dragster driver Brittany Force through the 2025 season, after which she retired from full-time racing, where Advance branding appeared on her John Force Racing entry. Similarly, Advance backed Top Fuel dragster driver Josh Hart via its TechNet Professional network, with a multi-year extension announced for the 2023 season continuing through 2025; Hart moved to John Force Racing for the 2026 season. In open-wheel racing, Advance Auto Parts became the official checkered flag sponsor for the NTT in 2023 under a multiyear deal, placing its logo on the iconic flag waved at the finish of all 17 races, including the , to enhance visibility among fans. Earlier involvement included a title sponsorship of the truck series from to 2013, during which Advance fielded a branded called the Advance Auto Parts , driven by competitors like Frank Krmel to promote the company's products at arena events. These partnerships significantly boost among do-it-yourself (DIY) mechanics and professional racers by associating Advance with performance and reliability in high-stakes environments, including product integrations such as DieHard batteries powering events like the 500.

Community and promotional activities

Advance Auto Parts engages in community involvement primarily through its philanthropic arm, the Advance Auto Parts Foundation (AAPF), which focuses on supporting military veterans and workforce development in the automotive sector. The foundation advances careers and communities by funding programs that promote employment opportunities in the auto industry, including career at community colleges and initiatives for women veterans. In 2024, AAPF distributed $1.75 million in grants to nonprofits aiding veterans, covering areas such as employment support, custom housing for injured service members, and frontline services. In 2025, the foundation partnered with Family & Children's Center for the Holiday Wish program supporting vulnerable teenagers and awarded Future Technicians Scholarships to automotive technology students. Key recipients included organizations like Stop Soldier Suicide, which received a $500,000 gift to expand staff and provide services to at-risk veterans, supplemented by in-store campaigns. The company's community efforts extend to health and education initiatives, with primary funding areas encompassing , veterans' needs, and skill-building programs. For instance, in 2021, Advance Auto Parts raised nearly $1.7 million for the through efforts at over 5,700 stores and locations, marking a 21% increase from the previous year. Additional contributions include a $25,000 in 2023 to support Project Taillight, a and vehicle repair program at aimed at helping students in need. Through partnerships like Good360, the company donates surplus auto parts to 16 member auto-tech schools and local nonprofits, fostering practices and training the next generation of repair specialists. These efforts earned Advance Auto Parts the 2022 Corporate Award for sponsored giving. On the promotional front, Advance Auto Parts conducts campaigns that blend with , often tying into its veteran support themes. The 2023 "Diehards Choose DieHard" campaign featured Marine veteran and Paralympic athlete Kirstie Ennis to highlight battery reliability while celebrating military resilience, distributed across digital, social, and in-store channels. Another initiative, the "Advancing to the Big Game" promotion during the , rewarded customers with prizes based on in-game events like long touchdown passes, engaging fans through store visits and online participation. The company also supports annual fundraisers like TechNet's Brakes for Breasts, where customers donate toward brake services to fund research, led by executives to boost community awareness and store traffic. Additionally, Advance Auto Parts runs tours targeting DIY automotive enthusiasts, visiting store events and festivals to offer hands-on demonstrations and promotions, enhancing customer interaction and brand loyalty.

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