### 7-Eleven Announces Closure of Hundreds of Underperforming Stores Across North America

7-Eleven is shutting down hundreds of its convenience stores in North America, according to a recent announcement. The company's Japan-based parent, Seven & I Holdings, disclosed in an earnings report that 444 locations are slated for closure. The decision comes in response to sluggish sales, dwindling customer traffic, inflationary pressures, and a notable decline in cigarette purchases.

While the specific stores set for closure have not been disclosed, the impact will be relatively limited, affecting only 3% of 7-Eleven's extensive network of 13,000 stores across the United States and Canada. The chain boasts an even larger presence in Japan, with over 21,000 shops.

"The North American economy remained robust overall thanks to the consumption of high-income earners, despite a persistently inflationary, elevated interest rate and deteriorating employment environment," stated Seven & I in its earnings release. The company also noted a shift in consumer behavior, with middle- and low-income earners becoming more cautious in their spending.

Cigarette sales, once a key revenue driver for convenience stores, have seen a dramatic 26% decline since 2019. Despite an increase in the sale of other nicotine products, the overall impact on revenue has been minimal.

Despite these challenges, 7-Eleven is committed to investing in its food offerings in the United States. Food has now become the highest-selling category and continues to attract a significant number of customers. In a bid to diversify its product range, the chain announced in July that it would introduce popular international food items such as milk bread egg sandwiches and miso ramen to its U.S. stores.