# Advance Auto Parts **Source:** https://geo.sig.ai/brands/advance-auto-parts **Vertical:** Automotive **Subcategory:** General **Tier:** Unknown **Website:** advanceautoparts.com **Last Updated:** 2026-04-14 ## Summary NYSE-listed (AAP) automotive aftermarket retailer at $11.3B revenue with 4,700+ stores; sold Worldpac in 2024 to focus on retail competing with AutoZone and O'Reilly for US automotive parts market. ## Company Overview Advance Auto Parts is a Raleigh, North Carolina-based automotive aftermarket parts retailer — listed on NYSE (NYSE: AAP) — operating 4,700+ stores across North America selling auto parts, accessories, batteries, and maintenance products to both DIY consumers and professional automotive repair shops (the DIFM — Do It For Me — segment) through its Advance Auto Parts, Carquest Auto Parts, and Worldpac wholesale distribution brands. Founded in 1932 and generating $11.3 billion in revenue in fiscal year 2024, Advance Auto Parts is the third-largest US automotive parts retailer (after AutoZone and O'Reilly Automotive) serving the $80 billion+ US automotive aftermarket. Advance Auto Parts' dual-customer model serves both retail (consumers buying parts for self-repair) and professional (mechanics and body shops buying wholesale through Worldpac distribution) — a broader channel mix than competitors that focus predominantly on one segment. The Speed Perks loyalty program (20+ million members) drives repeat purchase through points on parts and service rewards. Advance's same-day delivery and store fulfillment capabilities address the professional installer's need for rapid parts procurement — a body shop cannot have a vehicle lift occupied waiting for a part that arrives next day. Battery testing, charging, and installation services provided free in-store convert walk-in customers into purchasers at high rates. In 2025, Advance Auto Parts (NYSE: AAP) has undergone significant strategic changes — the company sold its Worldpac wholesale distribution business to Carlyle Group in late 2024 for $1.5 billion to focus on the retail channel and reduce debt. Competing with AutoZone (NYSE: AZO, the market leader with $17B+ revenue) and O'Reilly Automotive (NASDAQ: ORLY, $16B+ revenue) for automotive aftermarket retail, Advance has underperformed its competitors operationally for several years. The 2025 strategy focuses on turnaround execution under CEO Shane O'Kelly (joined 2023), supply chain and inventory optimization to improve in-stock rates, closing underperforming stores (100+ closures planned), and rebuilding the professional installer relationship following the Worldpac divestiture. ## Frequently Asked Questions ### What is Advance Auto Parts? Advance Auto Parts is the #3 auto parts retailer in the United States, providing a comprehensive range of automotive parts, accessories, and tools for both do-it-yourself (DIY) customers and professional installers. With over 4,700 stores nationwide, the company serves customers with quality parts at competitive prices and knowledgeable service support. ### When was Advance Auto Parts founded and by whom? Advance Auto Parts was originally founded in 1932 in Roanoke, Virginia by Arthur Taubman as Advance Stores. The company has since grown into a major national retailer through strategic expansions and acquisitions, including the 2001 merger with Discount Auto Parts and the 2014 acquisition of Carquest for $2 billion. ### What products and services does Advance Auto Parts offer? Advance Auto Parts offers a full range of automotive products including batteries, filters, belts, hoses, brakes, fluids, replacement parts, and performance accessories. The company serves both DIY customers working on their own vehicles and professional installers, with an even 50/50 business split between these two customer segments. ### How many stores does Advance Auto Parts operate? As of 2024, Advance Auto Parts operates over 4,700 stores across the United States, down from 5,400 stores at its peak. The company announced over 700 store closures in 2024 as part of a strategic restructuring effort to optimize its retail footprint and improve overall performance. ### What is Advance Auto Parts' annual revenue? Advance Auto Parts generated approximately $11 billion in revenue during 2024. However, the company has experienced declining revenue trends in recent years due to increased competition from larger retailers like AutoZone and O'Reilly Auto Parts, as well as shifting market dynamics. ### What is the current market position of Advance Auto Parts? Advance Auto Parts is the third-largest auto parts retailer in the United States, behind AutoZone ($18 billion revenue) and O'Reilly Auto Parts ($16 billion revenue). The company has a market capitalization of approximately $2 billion as of 2024, down from its $10 billion peak, reflecting recent industry challenges. ### How many employees does Advance Auto Parts have? Advance Auto Parts currently employs over 50,000 people across its stores and distribution centers nationwide. The company previously employed 70,000 employees at its peak, with the reduction reflecting store closures and operational restructuring efforts implemented since 2020. ### Who is the current CEO of Advance Auto Parts? Shane O'Kelly became CEO in 2024 and is leading a turnaround effort to restore the company's performance. O'Kelly is implementing strategic initiatives to address operational challenges and improve profitability amid intense competition in the auto parts retail sector. ### Is Advance Auto Parts a publicly traded company? Yes, Advance Auto Parts is a publicly traded company listed on the New York Stock Exchange under the ticker symbol AAP. As a public company, it reports quarterly and annual earnings and is subject to SEC regulations and investor scrutiny. ### What acquisitions has Advance Auto Parts made? Advance Auto Parts completed two major acquisitions: the 2001 merger with Discount Auto Parts, which enabled national expansion, and the 2014 acquisition of Carquest for $2 billion, which significantly expanded the company's professional installer customer base and product portfolio. ### What is the difference between shopping at Advance Auto Parts as a DIY customer vs. a professional? Advance Auto Parts serves both DIY customers (individual vehicle owners) and professional installers (mechanics, repair shops) with roughly equal business split (50/50). Professionals may receive bulk pricing, dedicated support, and specialized parts, while DIY customers benefit from local availability, expert advice, and consumer-friendly product selection. ### Why has Advance Auto Parts been experiencing challenges recently? Advance Auto Parts has faced significant headwinds since 2020 due to intense competition from larger rivals AutoZone and O'Reilly Auto Parts, the growth of online auto parts sales through Amazon and others, and internal execution issues related to inventory management. These factors have contributed to declining revenue, store closures, and reduced market share. ### Where are Advance Auto Parts locations found? Advance Auto Parts operates over 4,700 stores throughout the United States, providing convenient local access for customers across all 50 states. The company's extensive store network, while reduced from its peak of 5,400 locations, remains one of the largest automotive retail footprints in the country. ### How does Advance Auto Parts compare to its main competitors? AutoZone and O'Reilly Auto Parts are Advance Auto Parts' primary competitors, with combined revenues exceeding $34 billion. AutoZone leads with $18 billion in annual revenue while O'Reilly generates $16 billion, significantly outpacing Advance Auto Parts' $11 billion in revenue. Competition is intensifying with the growth of online auto parts retailers. ### What is Advance Auto Parts' original mission? Advance Auto Parts was founded on the mission to provide customers with quality automotive parts and accessories at competitive prices, supported by knowledgeable service for both DIY enthusiasts and professional installers. This customer-centric approach to serving the automotive aftermarket remains central to the brand's identity today. ## Tags b2c, hardware, north-america, public, retailtech, transportation --- *Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*