Nearly 450 7-Eleven stores across North America are set to close, a stark reminder of the changing retail landscape. Seven & I Holdings, the Japan-based parent company, revealed in a somber earnings report that 444 stores will shutter due to declining sales, particularly in cigarettes, diminished foot traffic, and the weight of inflation.
No list of affected locations has been provided, creating uncertainty for many communities. Although 7-Eleven boasts 13,000 stores across the U.S. and Canada, the impending closures represent a loss of 3% of its overall presence.
The chain has been grappling with six straight months of traffic declines, with August alone seeing a staggering 7.3% drop. In its report, Seven & I Holdings acknowledged that while the North American economy remains stable for some, fueled by high-income earners, many middle- and low-income shoppers are adopting more cautious spending habits amid rising inflation and a difficult job market.
Once a stronghold for sales, cigarette purchases have plummeted by 26% since 2019, and the shift toward alternative nicotine products has not been enough to offset these losses. In response, the company plans to pivot its focus toward food, now the highest-selling category in its stores.
Seven & I Holdings aims to redefine its identity as “a world-class retail group centered around food,” promising to lead retail innovation through growth strategies and enhanced use of technology. In a hopeful gesture, the chain has also announced plans to introduce popular international food items—milk, bread, egg sandwiches, and miso ramen—into its U.S. stores.
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