Seven & i Holdings Co., the Japanese parent company of the popular convenience store chain 7-Eleven, has announced plans to close 444 underperforming stores across North America. The decision comes as part of the company’s efforts to improve profitability in the region.
The closures will affect stores in the United States and Canada, with the majority of the locations being in the U.S. The company has not specified which stores will be closing or when the closures will take place, but it is expected that the process will begin soon.
Seven & i Holdings Co. acquired 7-Eleven in 2005 and has since expanded the chain to over 9,000 locations in North America. However, the company has been facing challenges in recent years as competition in the convenience store industry continues to intensify.
In a statement, the company acknowledged that the decision to close stores was a difficult one, but emphasized the need to focus on profitable locations and strengthen the overall performance of the brand. The company will also be reviewing its store portfolio and making adjustments to ensure it remains competitive in the market.
The closures will not affect the overall presence of 7-Eleven in North America, as the company plans to continue operating the remaining locations and exploring opportunities for future growth. The company is also investing in renovations and new technologies to enhance the customer experience and drive sales.
Overall, Seven & i Holdings Co. remains committed to the success of 7-Eleven in North America and is taking proactive steps to ensure its long-term sustainability in the market.
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