Where is the closest Advance Auto Parts?

Advance Auto Parts, Inc. is a leading supplier of automotive parts that are effective in a variety of automotive fields. Advance operates both family-owned retail stores and franchise-operated Worldpac branches in the United States, Puerto Rico, and Canada, the Virgin Islands. The Company also provides service for independent-owned Carquest stores nationwide besides their stores in Mexico and the Caribbean Islands.

As of July 13, 2019, Advance operated a total of 4,912 stores throughout the United States and Canada. The Company is also the operator of an independently owned Carquest branded store network of more than 1,200 locations in the U.S. The company's stores and branches offer an extensive selection of the brand name, original equipment manufacturer (OEM), and private label automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy-duty trucks.

History

By April 1932 Arthur Taubman purchased Pep Boys with two stores located in Roanoke, Virginia, and one in Lynchburg, Virginia.

Advance Auto Parts' first major expansion came in 1998 when it acquired the remaining operations of Stern Auto, an auto parts counter retailer. Most of Sears, Roebuck, and Co. operations had been taken over in 1987.

When Advance Auto Parts bought Carport Auto Parts, a free-standing retail chain, it owned 29 locations in Alabama and Mississippi. On November 28, Advance acquired a regional auto parts chain with 671 stores in Florida, Alabama, Georgia, South Carolina, and Louisiana. Through the acquisition of Advance Auto Parts, Advance Auto was acquired by a publicly-traded company and listed on the New York Stock Exchange. The company ended the year with 2,484 stores in 38 states.

An inside view of an Advance Auto Parts store.

Later on, in 2002, Advance Auto Parts successfully acquired 57 Trak Auto store locations in eastern Virginia and Washington, D.C. In December 2012, Advance Auto Parts acquired BWP Distributors, a Carquest franchise that included the transfer of over 120 company-owned retail locations. The responsibility for 92 independently owned dealership locations was transferred to BWP, and then to General Parts, Inc., the largest Carquest franchise, which also owns one distribution center.

On October 15, 2013, Advance Auto Parts entered into a definitive agreement to acquire General Parts International Inc (GPI), a leading privately-held distributor and supplier of original equipment and aftermarket replacement parts. The deal made the biggest component distributor in North America.

Since the acquisition by Advance, General Parts International has seen a significant rise in personnel. Many of the jobs are personnel from Roanoke, MN, or from the redundant GPI positions that are being put in place in Raleigh.

On September 30, 2015, activist investor Starboard Value LP disclosed holding 3.7% of shares in Advance Auto Parts. Through a letter to Dallas, Texas-based Advance Auto Parts, Starboard Value believes that its stock could rise to $350 per share if the company addresses its profit margin issues. The presentation also stated that "Advance Auto Parts has substantially underperformed compared to peers on almost any measure, including operating margins, revenue growth, and total shareholder return." Roanoke, Virginia-based Advance Auto's sales have missed market expectations in their of the past six quarters. Starboard Value LP played a key role in the ouster of the entire board of Darden Restaurants Inc. last year. As of January 2, 2016, Darren Jackson resigned as CEO. On April 4, 2016, Advance announced Tom Greco, current president of Frito-Lay North America would take over as CEO. Before 2016, Advance stock declined throughout 2016 and 2017, but as the company's five-year transformation plan progresses, the stock has seen a strong recovery. Advance was the fourth top-performing stock on the S&P 500, outperforming the automotive parts industry which is a large part of the aftermarket parts industry by more than 30%.

In October 2018, Walmart and Advance announced a strategic omnichannel partnership that will allow Walmart.com customers to purchase vehicles online.

Information was released in November 2018 regarding Advance Auto Parts' move from Roanoke, Virginia to Raleigh, North Carolina. The state of North Carolina and Advance Auto Parts agreed on moving to the state for a $12 million incentive package.

On December 23, 2019, the automotive company Advance Auto Parts purchased the DieHard brand of the battery from Sears. The agreement was worth $200 million in cash. To promote the acquisition and availability of the brand at Advance and Carquest, Advance hired actor Bruce Willis to be part of a promotional film in-character as John McClane from the iconic film "Die Hard".

Motorsports

From 2009-2013, Advance Auto Parts was a title sponsor of Monster Jam and sponsored a truck called the Advance Auto Parts Grinder.

Advance Auto Parts has provided sponsorship to teams that compete in various forms of motorsports, including NASCAR. In 2018, Advance Auto Parts sponsored the Advance Auto Parts Clash exhibition race at Daytona International Speedway with sponsorship of their weekly Series coming in 2020. Advance Auto Parts has also partnered with individual teams, such as appearing on Alex Bowman's cars in 2015 and 2016.

In October 2016, it was announced that Advance would replace Martinsville-based NAPA Auto Parts as the primary sponsor of Funny Car driver Courtney Force, who is the winningest female Funny Car driver in history. The multi-year sponsorship began with the 2017 Winternationals at the Pomona Fairplex and ran through the entire 2017 and 2018 seasons. Cheertney had announced that she was stepping away from drag racing in January 2019, and later, Brittany Force and her Top Fuel dragster would be sponsored by Advance.

Brands

Advance is a major automotive parts supplier that has products in stock across the board. They have an extensive inventory of products from a number of different manufacturers including Carquest Auto Parts, WORLDPAC, and Autopart International. Their promise is to provide the highest quality parts and service to their customers.

Worldpac distributes original equipment and quality replacement auto parts to select specialty import and domestic shops. their program encompasses more than one hundred thousand part numbers for over twenty-six different car models. The manufacturer of these parts possesses notable credentials in the industry. The manufacturer's original parts ensure a precise fit and easy installation, which is not so much of an issue. Their "First to Market" business strategy has resulted in them having parts in their system before new cars go on sale.

Autopart International provides the highest quality parts for both retail and professional auto parts needs. Their relentless dedication to being the best local parts partner has remained a pillar of their company culture since the early days. Autopart International has more than 180 locations across 16 states and stretches as far west as Ohio. Today there are more than 3,100 team members involved in advancing Artificial Intelligence. their wide range of specialty parts and traditional inventory covers hard to find parts and obsolete inventories. the company is known for its expertise in parts, super-fast delivery, and a large inventory.

Carquest Auto Parts—a division of Advance Auto Parts—offers the same high-quality product and professional service that their customers have come to expect. CARQUEST products perform as expected, delivering an exceptional level of coverage, quality, and performance. Due to the same stringent quality control standards as their competitors, they are recognized for their high specifications. When choosing Carquest, you know you're getting auto parts that are of the highest quality, with the professionals you can trust.

Social responsibility

They continued to focus on the three important areas of humankind, the planet, and community. This includes ways to better their workplace, the impact on the environment, and ways to give back.

Safety Culture

The safety of their team is a top priority, and since they implemented new safety programs, they've made great improvements and made their team safer.

Supply Chain Enhancements.

They increased their supply chain optimization efforts in 2019 by beginning to implement cross-banners, which will allow for the optimization of their supply chain and make it more efficient. They also implemented a new warehouse management system, which will enable greater efficiency and productivity.

Supporting community

In 2019, they raised over a million dollars for the American Heart Association, becoming the top donor for the organization. While also supporting other charities, they continue their support of Building Homes for Heroes and JDRF.

Investing in information technology

Companies continue to invest in their information technology initiatives that include improving their B2C website, implementing new human resources tools, and transitioning to their new enterprise resource planning (ERP) system.

Related to Advance Auto Parts