NEW YORK — The 7-Eleven convenience store chain announced it plans to close more than 400 locations across the U.S. and Canada, saying they are “underperforming” as customers change their preferences.
NPR reports Seven & I Holdings, the chain’s parent company, announced last week the plan to close 444 stores, which represent only 4% of more than 13,000 locations. The announcement cited “inflation pressures, slowed traffic, a decline in cigarette sales and a shift in consumer appetites,” NPR reports.
USA Today reports the company has not provided a list of which locations will be closed.
According to USA Today, Seven & I Holdings, which is based in Japan, plans several changes, including an emphasis on fresh food and its proprietary beverages. It also hopes to accelerate digital and delivery, grow its loyalty program and enhance its store network, USA Today reports.
“Affordable, high quality foods are becoming more important,” 7-Eleven CEO and President Joe DePinto said, according to NPR.
NPR reports the Canadian company Alimentation Couche-Tard, which owns Circle K, currently is trying to purchase Seven & I Holdings.
