Nearly 450 7-Eleven stores across North America are closing due to underperformance, according to the company, which did not disclose which stores will be closing.
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.
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.
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