The convenience store chain 7-Eleven is closing 444 locations across North America, whilst while simultaneously working to open more than 600 stores in its new format.
7-Eleven’s Japan-based parent company, Seven & I Holdings, a few weeks ago announced it would be shutting hundreds of ‘underperforming’ stores amid inflation and a drip in cigarette sales.
That represents 3% of its over 13,000 stores in the US, Canada and Mexico. 7-Eleven at the time told CNN that it ‘continuously reviews and optimizes its portfolio’ and keeps opening stores ‘in areas where customers are looking for more convenience’.
7-Eleven has more than 13,000 locations in the US, Canada and Mexico. The chain seeks to open 600 large-format, fast-casual food stores in North America by the end of 2027, said 7-Eleven CEO Joe DePinto. The ‘New Standard’ stores will have more food options and self-checkout counters.
Some ‘New Standard’ stores are already up and running and have shown an 11% return on investment, according to DePinto.
The new concept also referred to as ‘Evolution’ stores will have in-store restaurants, wine cellars and cigars and other premium offerings. The first one opened in Dallas in 2019 and it was not clear how many are operating.
Full article 7-Eleven closing 444 stores – while opening 600 in new format | US News | Metro News
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