Reported about 1 month ago
Advance Auto Parts, valued at $2.4 billion, is poised to receive a significant $1.2 billion payday from the sale of its subsidiary Worldpac. This deal, expected to close in the fourth quarter, marks a crucial step in CEO Shane O'Kelly's strategy to resolve the company's operational inefficiencies and enhance profitability, which has lagged behind competitors like Autozone and O'Reilly. The funds from the sale will provide Advance with the financial flexibility needed for a much-needed turnaround.
Source: YAHOO