Advance Auto Parts said it will close hundreds of stores and cut jobs after posting a surprising quarterly loss and forecasting revenue below market expectations.

Advance Auto Parts announced that it will close over 700 locations, including corporate stores and independently-owned locations, as part of a financial restructuring effort.

NEW YORK — Advance Auto Parts is closing more than 500 stores and shedding another 200 independent locations as part of its efforts to revive its struggling business.