Financial and Sales Challenges
Seven & I Holdings, the parent company of , announced the closure of 444 underperforming stores due to a slump in sales, particularly cigarette sales, and decreased traffic amid inflationary pressures.
The closures represent about 3% of 7-Eleven's portfolio, affecting over 13,000 stores across the , , and , with a 7.3% traffic decline in August marking six consecutive months of decline.
Strategic Shifts and Market Adaptation
In response to declining sales, 7-Eleven plans to transform its stores to focus more on food, the highest-selling category, and introduce popular international food items in U.S. stores.
The company faces increased competition and a shift in consumer spending, especially among middle- and low-income earners, prompting a strategic pivot towards food and away from traditional nicotine products.