A Major Change Is Coming to 7-Eleven—Here’s What We Know
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This convenience store's offerings might look different soon.
7 Eleven/Allrecipes
If you’re a fan of 7-Eleven like us, it may be hard to hear that the company plans to close several hundred stores soon. In a recent earnings report, 7-Eleven’s parent company Seven & I Holdings announced that “444 underperforming stores” are set to close.7-Eleven President and CEO Joe DePinto explains the closures are due to “sales and margin challenges against the backdrop of inflation-weary and pressured U.S. consumers.” He also says the “decline in industry-wide cigarette sales” has caused the company to take a major financial hit.No specific locations were named in the report, but CNN says over 13,000 stores nationwide are affected, including in Canada and Mexico. This represents only 3% of store closures in total.What's Changing for 7-ElevenHowever, this is not all bad news. The company states they are “optimistic” about its future, thanks to its new “long-term strategy.” Rather than simply being a quick grab-and-go service we’re used to, 7-Eleven is changing things up to focus on offering customers better food options. DePinto states that since customers are now more actively looking for “quality” food and beverage items and private brands, the company plans to grow its proprietary products while still keeping them affordable.“To accelerate this growth, we've been investing in our food and beverage modernization program,” says DePinto. “This platform offers our customers a wider assortment of hot food and specialty beverages.” What does this food and beverage modernization program look like exactly? Well, it includes anything from bake-in-store items to self-serve roller grills, specialty coffees, and the company’s notorious grab-and-go cases.According to DePinto, this food and beverage program is already in motion in 5,000 stores, with an additional 1,900 stores set to acquire “the full program or elements of the program by the end of 2024.” Another 650 stores will also be added in early 2050 with more to follow. Read the original article on All Recipes.
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