Second quarter earnings up for Advance Auto Parts; however 50 stores to close
(WSLS 10) - Advance Auto Parts released their earnings for its second quarter on Thursday.
The auto parts retailer made $150 million on $2.4 billion in sales. Sales increased by one percent at stores open more than a year.
Earlier this month the company announced it would eliminate about 100 corporate jobs, half of them in Roanoke.
The layoffs eliminate duplicate functions, consolidates some departments and cuts some projects.
As part of its on-going process of store evaluations, the Company says they've identified, and are subsequently planning to close 50 stores later this year. The company says the closures are in line with their accelerated efforts to achieve their 12 percent comparable operating profit target in 2016.
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