During a meeting with analysts and investors on Wednesday, Advance Auto Parts executives were asked how many stores they expect to close as a result of the company's acquisition of Raleigh-based General Parts International.
George Sherman, Advance Auto's president, said the company is consolidating 100 stores as part of a first round of closings.
"There will be more going forward," he said. "We have to assess fully 1,200-plus stores across the country. There will be a large group of consolidations, but there will be a lot of conversations where we flip the banner and there will be some relocations."
General Parts operated 1,248 Carquest locations and had 38 distribution centers across the U.S. and Canada when it was acquired in January for $2.04 billion. The company also serviced about 1,400 independently owned Carquest locations.
Advance Auto had 4,049 stores and 12 distribution centers before the merger. The two companies combined have more than 70,000 employees.
Advance Auto CEO Darren Jackson said the company was not avoiding the question by not providing a clearer picture on the number of stores and distribution centers that might close.
