Advance Auto Parts

Fox five watching your wallet tonight and a big player in the auto parts game about to close more than 500 stores and of course cut jobs along with it. So we're talking about advanced auto parts. Fox eyes. Kendall Green takes a look under the hood to find out why and if this could spell bigger trouble for the auto parts industry. Advanced auto parts joins the growing list of retailers rolling back announcing closures of more than 700 stores, including 523 corporate shops, 204 independent locations and four distribution centers. No, it don't surprise me. Folks So I just go to Audi for everything I need dealership. Yeah, the dealership after revealing their last quarter's performance. The major chains shares dropped 5%. Now the company CEO shares the cuts are a part of creating value among shareholders. Now advanced auto parts move to close hundreds of their stores are signs of the times and mechanics here at United Auto Repairs have seen those times changing and tell us that's no surprise. I could see them having hard times, especially with the COVID and everything else and people not using the cars as much and they're not breaking down as much. And The father son mechanic duo shares those new cars comes with lengthy warranties cutting into business for both auto parts stores and mechanics as customers at times bypassed them both, not to mention smart cars also reducing the need for traditional auto parts. If you don't have the vol So with stores Business expert and attorney, Parag Amin says now is the time to shift their focus. If I'm one of the CEOs for one of these auto parts stores, I'm nervous. I realized that the internet is a very difficult thing to compete with in terms of price in terms of convenience. So ultimately what I'm looking at is how do I make my people better? Kendall Green, Fox five news.