Facing declining sales and lower customer traffic, 7-Eleven has announced the closure of nearly 450 stores across North America. The chain’s parent company, Seven & I Holdings, revealed on Thursday that cigarette sales have dropped by 26% since 2019, contributing to the decision to shut down 444 underperforming stores.
The closures will affect around 3% of 7-Eleven’s North American locations, though the specific stores and closure dates have not yet been announced. The company currently operates around 3,000 stores in the U.S. and Canada.
According to Seven & I Holdings, the North American economy remains strong overall, but inflation and rising interest rates have led to more cautious spending by middle- and low-income consumers. The company also pointed to a steady decline in foot traffic at 7-Eleven stores, with customer visits dropping for six consecutive months, including a 7.3% drop in August 2024.
In response to these challenges, 7-Eleven is shifting its business focus toward food products, which have now become the chain’s top-selling category. Earlier this year, the company announced plans to introduce a variety of international food items, such as miso ramen, milk, and bread, to its U.S. stores.
While the closures represent a significant change for 7-Eleven, the company is optimistic that its focus on food and other high-demand items will help it navigate the challenges facing the convenience store industry.
