March 7, 2019—The Advance Auto Parts store in Sherman will soon be closing its door for good, Harold Democrat reports. Store manager Diana Dohill said the store is currently marking down all items ahead of its final day of business on Saturday.
Dohill said Advance Auto Parts took over the store, located at 705 E. Taylor Street, five years ago.
Sherman assistant city manager Terrence Steele said the closure shouldn’t hurt Sherman residents’ ability to shop for auto parts, Harold Democrat reports.
“We have three auto parts stores right by [it],” Steele said. “There is a NAPA within 500 feet of that store, then there is Auto Zone and O’Reilly’s (Auto Part) right up the street on Texoma Parkway. That is probably why Advance could not compete—they were the latest one that came to town.”
As part of a financial earnings report issued last month for the fourth quarter of 2018, Advance Auto Parts Inc. reported net sales increased 3.3 percent over the quarter to $2.1 billion and operating income decreased by the same percentage to $84.3 million, reports Harold Democrat.
“I am proud to report another quarter of comp sales and adjusted operating income growth as we concluded the second year of our transformation agenda with consistent, balanced improvement in nearly every metric,” president and chief executive office Tom Greco said in the report. “The dedication of our entire team is evident as they focused on delighting the customer and growing the top-line while remaining disciplined in controlling costs to deliver margin expansion.”
With the store closing, Advance Auto Parts’ next closest store to Sherman will be its store in McKinney. As of the end of last year, its parent company had 4,966 stores in the U.S., Canada, Puerto Rico and the U.S. Virgin Islands. It also serves 1,231 independently owned Carquest branded stores around the world.
