Advance Auto Parts, Inc.

What does Advance Auto Parts own?
Advance Auto Parts, Inc. owns the Advance Auto Parts and Carquest store banners, the DieHard product brand, private-label sourcing arm Autopart International, and the ARGOS private-label motor oil. It sold its Worldpac wholesale business in November 2024.

Is Advance Auto Parts publicly traded?
Yes. It trades on the New York Stock Exchange under ticker AAP. It is a conventional single-class public corporation with institutional investors holding most shares.

When was Advance Auto Parts founded?
Arthur Taubman founded the company in 1932 in Baltimore, Maryland, as Advance Stores Company after buying three auto parts stores. It went public on the NYSE in 2001.

Who owns Advance Auto Parts?
Public shareholders own it. Shane O'Kelly has been president and CEO since September 2023, leading a turnaround focused on margin recovery and store network optimization.

What is Advance Auto Parts' market position?
It is the third-largest US automotive aftermarket parts retailer behind AutoZone and O'Reilly, operating approximately 4,300 stores. Its margins trail both competitors, which defines its current restructuring strategy.

Does Advance Auto Parts own Carquest and DieHard?
Yes. Carquest came through the 2013 acquisition of General Parts International, and the company bought the DieHard brand in 2019 for about $200 million.

Arthur Taubman founded the business in 1932 when he purchased three auto parts stores in Baltimore, Maryland, forming Advance Stores Company. The chain grew regionally through the mid-20th century along the East Coast, serving the rising do-it-yourself repair market.

A transformational deal came in 1998, when Advance acquired Western Auto Supply, roughly doubling its store count. The company went public on the NYSE in 2001 and continued expanding, adding the Discount Auto Parts chain in 2002 and becoming one of the three largest national auto parts retailers alongside AutoZone and O'Reilly.

The 2013 acquisition of General Parts International for approximately $2 billion brought Carquest and the Worldpac import-parts wholesale business, moves intended to strengthen the professional side of the business. Integration of those assets proved difficult for years, and margins persistently lagged peers AutoZone and O'Reilly.

The current reshaping began with O'Kelly's 2023 arrival. In 2024 the company launched a restructuring plan that closed more than 500 corporate stores, shuttered distribution centers, and reduced headcount. The November 2024 Worldpac sale for $1.5 billion simplified the business to retail and professional parts sales under the two store banners and paid down debt.

FY2025 showed the first fruits: net sales of $8.6 billion reflected the smaller footprint, but comparable sales turned positive at 0.8% and adjusted operating margin expanded more than 200 basis points. In Q3 2026, reported November 5, 2026, sales were $2.01 billion with comparable sales down 1.2% but trends improving through the quarter, and adjusted operating margin reached 4.5%.

As a retailer, Advance's sustainability program centers on product take-back and its own operations. Its stores accept used motor oil and old batteries for recycling, and the company reports recycling millions of lead-acid batteries annually through its core return program, one of the larger closed-loop recycling systems in retail.

Operational commitments cover emissions, waste, and workplace safety across the store and distribution network. The company publishes annual corporate responsibility reporting. Its product footprint is largely regulatory-compliant auto parts, so third-party ethical certifications play a limited role.

Advance's recent history is a story of underperformance rather than scandal. Activist investors pressured the company for years over its persistent margin gap versus AutoZone and O'Reilly, and the 2019 settlement with Starboard Value placed new directors on the board, contributing to the leadership turnover that brought O'Kelly in 2023.

The 2024 restructuring produced workforce reductions and store closures that drew scrutiny in affected communities, though the moves were framed as necessary for competitiveness. The company also disclosed material weaknesses in financial controls during the restructuring period, which management says it has remediated.