AutoNation
Auto Parts & ServiceAN$186.06+1.1%
Investment grade · Moody’s Baa3
Auto Parts & Service
Advance Auto Parts
Parent: Advance Auto Parts, Inc. · Public
NYSE: AAP$45.94+1.0%close Nov. 9, 2026
Credit ratingBB High yield
AAAAAABBBBBBCCCD
Investment gradeHigh yield
S&P Global, as of July 10, 2026 · Outlook negative. Source: Hanley Investment Group, net lease tenant credit ratings, Q3 2026
EmployeesNot verifiedNo verified source
HeadquartersRaleigh, North CarolinaAuto Parts & Service
New Initiatives
How the real estate strategy is changing: openings, closures, formats, remodels, relocations and refranchising.
Advance reported 4,311 stores and plans 30 to 35 new stores and 15 to 20 market hubs in fiscal 2026.
Source: Advance Auto Parts second-quarter 2026 resultsCompleted its footprint optimization in the first quarter of 2025, closing about 500 stores, about 200 independent locations and four distribution centers under its 2024 restructuring plan.
Source: Advance Auto Parts, Inc. Form 10-K (filed Feb. 13, 2026)
Advance Auto Parts supplies aftermarket parts to professional installers and do-it-yourself customers through company stores and a network of independently owned Carquest locations. The company closed several hundred stores in a 2024 and 2025 footprint review and is now adding stores and market hubs again.
Store count
4,311 as of July 18, 2026
-4.0%/yr annualized over 2.5 yrs (Dec 2023 to Jul 2026)Company-operated stores, excluding independently owned Carquest locations. Counts as reported at each period end. Sources: AAP Form 10-K, fiscal year ended 2023-12-30; AAP Form 10-K, fiscal year ended 2024-12-28; AAP Form 10-K, fiscal year ended 2026-01-03; Advance Auto Parts Form 10-Q and 8 earlier sources.
What’s changing
Moody’s revised the outlook on Advance Auto Parts to stable, citing turnaround progress. Source: Investing.com
SEC Filings
Annual reports filed by Advance Auto Parts, Inc.. All filings on EDGAR
| Period | Form | Filed | Document |
|---|---|---|---|
| Fiscal year ended Jan. 3, 2026 | 10-K | Feb. 13, 2026 | View on sec.gov |
| Fiscal year ended Dec. 28, 2024 | 10-K | Feb. 26, 2025 | View on sec.gov |
| Fiscal year ended Dec. 30, 2023 | 10-K | Mar. 12, 2024 | View on sec.gov |
| Fiscal year ended Dec. 31, 2022 | 10-K | Feb. 28, 2023 | View on sec.gov |
| Latest quarter, period ended July 18, 2026 | 10-Q | Aug. 20, 2026 | View on sec.gov |
Credit ratings
| Agency | Rating | Outlook | As of | Source |
|---|---|---|---|---|
| S&P Global | BB | Negative | July 10, 2026 | Hanley Investment Group, net lease tenant credit ratings, Q3 2026 |
| Moody’s | Ba3 | Stable | Outlook revised to stable, 2026 | Investing.com report of Moody’s action |
Bond market context
| Issuer bond yield | Unavailable. No free, licensed source for individual bond yields. |
|---|---|
| BB index effective yield | 6.73% (Nov. 6, 2026; ICE BofA BB US High Yield Index) |
| BB index spread (OAS) | 208 bps over Treasuries; 195 bps a year earlier (FRED) |
| 10-year Treasury | 4.88% (Nov. 9, 2026) |
The index row shows the yield on BB-rated U.S. corporate bonds as a group, the closest free benchmark for this rating category. It is not the yield on this company’s own bonds.
Share prices, Yahoo Finance, as of Nov. 9, 2026. Bond index yields and spreads, ICE BofA US corporate and high yield indices, ICE Data Indices, LLC, via FRED, Federal Reserve Bank of St. Louis. 10-year yield, U.S. Department of the Treasury.
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