Katherine Rodriguez
| NJ.com
7-Eleven plans to close more than 400 U.S. stores by the end of 2024.
The parent company of the convenience store chain, Seven & i Holdings, said that the 444 stores marked for closure out of the 13,000 locations in the U.S. and Canada were “underperforming.”
The specific closures, which have not been revealed, were announced during the most recent earnings call towards the end of last week. They are expected to take place in the fourth quarter of 2024.
The company cited declining traffic and sales, specifically cigarette sales, as reasons for cutting back on its footprint.
However, 7-Eleven also announced measures to keep the company afloat, such as growing its fresh food and store-branded beverage line and making enhancements to its loyalty program.
Seven & i Holdings also plans on renaming itself “7-Eleven Corp.” to emphasize its ties to the profitable convenience store end of the business.
Source link : https://www.detroitnews.com/story/business/2024/10/15/7-elevenplans-to-close-444-u-s-stores-by-the-end-of-2024/75692101007/
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Publish date : 2024-10-15 09:48:00
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