{"id":113594,"date":"2024-10-13T07:26:54","date_gmt":"2024-10-13T00:26:54","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=113594"},"modified":"2024-10-13T07:26:54","modified_gmt":"2024-10-13T00:26:54","slug":"7-eleven-is-closing-more-than-400-locations-in-north-america","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=113594","title":{"rendered":"7-Eleven is closing more than 400 locations in North America"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div data-testid=\"prism-article-body\">\n<p class=\"EkqkG nlgHS yuUao MvWXB TjIXL aGjvy ebVHC\"><span class=\"oyrPY qlwaB AGxeB\">NEW YORK &#8212; <\/span>Several hundred &#8220;underperforming&#8221; 7-Eleven locations across North America are closing, the convenience store announced.<\/p>\n<p class=\"EkqkG nlgHS yuUao lqtkC TjIXL aGjvy\">Seven <!-- -->&amp; I Holdings, the chain&#8217;s Japan-based parent company, revealed in an earnings report Thursday that 444 locations of 7-Eleven are shutting down because of a variety of issues, including slowing sales, declining traffic, inflationary pressures and a decrease in cigarette purchases.<\/p>\n<p class=\"EkqkG nlgHS yuUao lqtkC TjIXL aGjvy\">A specific list of closing locations wasn&#8217;t immediately released. The chain has more than 13,000 stores across the United States, Canada and Mexico, so the number of closures amounts to 3% of its portfolio.<\/p>\n<p class=\"EkqkG nlgHS yuUao lqtkC TjIXL aGjvy\">In its earnings release, Seven <!-- -->&amp; I said that while the North American economy is &#8220;robust overall,&#8221; it noticed a &#8220;more prudent approach to consumption&#8221; from middle- and low-income earners because of persistent inflation, high interest rates and a &#8220;deteriorating&#8221; employment environment.<\/p>\n<p class=\"EkqkG nlgHS yuUao lqtkC TjIXL aGjvy\">A combination of those factors led to a 7.3% decline in traffic in August, capping off six straight months of declines.<\/p>\n<p class=\"EkqkG nlgHS yuUao lqtkC TjIXL aGjvy\">The chain also pointed out that cigarettes purchases, which was once the largest sales category for convenience stores, has fallen 26% since 2019. A marked shift in sales to other nicotine products, like Zyn, hasn&#8217;t made up the difference.<\/p>\n<p class=\"EkqkG nlgHS yuUao lqtkC TjIXL aGjvy\">7-Eleven told CNN in a statement that it &#8220;continuously reviews and optimizes its portfolio&#8221; and the closed stores are part of its growth strategy, adding that the chain continues to &#8220;open stores in areas where customers are looking for more convenience&#8221;<\/p>\n<p class=\"EkqkG nlgHS yuUao lqtkC TjIXL aGjvy\">The 444 closures is a &#8220;gentle pruning of the chain to keep it efficient and profitable,&#8221; according to Neil Saunders, a retail industry analyst and managing director with GlobalData Retail.<\/p>\n<p class=\"EkqkG nlgHS yuUao lqtkC TjIXL aGjvy\">&#8220;The locations being closed have likely suffered from a disproportionate decline in foot traffic and customers as consumers battle with rising food prices and cut back on the amount they buy,&#8221; Saunders told CNN. &#8220;In some areas, increased competition from online and value stores will also have taken their toll as consumers seek out lower prices.&#8221;<\/p>\n<p class=\"EkqkG nlgHS yuUao lqtkC TjIXL aGjvy\">Meanwhile, 7-Eleven said it will continue to invest in food in the United States since it&#8217;s now the highest sales category and a top draw for customers. Competitors like Wawa and Sheetz are earning higher customer satisfaction scores for their overall offerings, while 7-Eleven ranked way lower, according to a recent survey.<\/p>\n<p class=\"EkqkG nlgHS yuUao lqtkC TjIXL aGjvy\">The company&#8217;s latest financial results come amid a takeover offer from Circle-K owner Couche-Tard, which increased its bid by $8 billion to $47.2 billion this week.<\/p>\n<p class=\"EkqkG nlgHS yuUao lqtkC eTIW sUzSN\"><em>The-CNN-Wire <!-- -->&amp;  2024 Cable News Network, Inc., a Warner Bros. Discovery Company. All rights reserved.<\/em><\/p>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/abc7.com\/post\/7-eleven-is-closing-more-400-locations-north-america\/15421921\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK &#8212; Several hundred &#8220;underperforming&#8221; 7-Eleven locations across North America are closing, the convenience store announced. Seven &amp; I Holdings, the chain&#8217;s Japan-based parent company, revealed in an earnings &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=113594\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-113594","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/113594","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=113594"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/113594\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=113594"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=113594"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=113594"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}