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2024-10-14 Economy

7-Eleven shutting down nearly 450 stores across North America for underperforming

[FOXBUSINESS] Nearly 450 7-Eleven stores across North America are closing for underperforming, according to the company.

Seven & I Holdings, 7-Eleven's Japan-based parent company, announced in an earnings report Thursday that 444 7-Eleven stores are closing because of a dip in sales, particularly cigarette sales, as well as decreased traffic and inflation.

A list of which stores will be closing was not released.

7-Eleven has 13,000 stores across the U.S. and Canada, which means the closures would only impact 3% of the company's portfolio.

The convenience store chain has faced six consecutive months of traffic declines, including a 7.3% dip in August.

"The North American economy remained robust overall thanks to the consumption of high-income earners, despite a persistently inflationary, elevated interest rate and deteriorating employment environment," Seven & I Holdings said in an earnings release. "In this context, there was a more prudent approach to consumption, particularly among middle- and low-income earners."

Posted by Fred 2024-10-14 00:00|| E-Mail|| Front Page|| [11148 views ] Top

#1 7-Eleven only sells fake food anyway. Almost anything you can buy in a 7-Eleven you're better off not eating or drinking. All that processed food gives you metabolic disorders / cancer and especially those sugar-laced slurpees.

Posted by Anon1 2024-10-14 08:21|| 2024-10-14 08:21|| Front Page Top

#2 ^ Sometimes, in a food desert, that's all you get.

Posted by Skidmark 2024-10-14 10:28|| 2024-10-14 10:28|| Front Page Top

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