Heads up, convenience store fanatics: 7-Eleven has revealed plans to shutter nearly 450 stores across the U.S. and Canada. According to an earnings report, 444 underperforming stores will be closing as a result of several factors, including… healthier habits? Here’s everything you need to know about the upcoming closures affecting the ubiquitous convenience store chain.
Why are 7-Eleven stores closing?
In their earnings report, Japan-based Seven & I Holdings, which owns the 7-Eleven chain, reported that despite a robust economy overall, it had faced a challenging first half of 2024 due to slowing sales, declining foot traffic, inflationary pressures and a decline in cigarette sales. That’s right, customers making healthier choices has affected 7-Eleven sales. According to the report, cigarette sales—once the top-selling category for convenience stores—have declined 26 percent since 2019. Food has taken over as the biggest sales category, so 7-Eleven will shift focus to provide a greater variety of high-quality food items in the stores that will remain open.
How many stores will be closing?
The company reports that 444 underperforming stores will close. Given that the chain has more than 13,000 stores in North America, this number represents a mere 3 percent of the company’s stores.
Which stores have been confirmed for closing?
A list of which stores are closing and where has not yet been released.
When will the stores be closing?
While no timeline was provided, the chosen stores will be closing by the end of 2024.