One of the oldest retailers, 7-Eleven, is shutting down more than 500 stores. Many believe that when a popular big retailer makes a move without an announcement to inform its community, people generally do not see the enormity of the move. This retailer has been in operation for nearly 100 years, and it decided to make a big secret move. Now, many may wonder why and what the next plans are for the company, if any.
The story behind 7-Eleven’s big move
Many retailers have been under a lot of pressure over the past few years and even the past few months, especially when it comes to the state of the country. Another main factor that plays a role is the continuous increase in tariff rates that impact the product prices. Hence, some of the retailers have made no effort, or have been given no choice, when it comes to talking about their store closures.
7-Eleven is definitely not the only company that is closing stores. For example, Rie Aid has been shutting down its entire operation with all its stores slated to close. This decision led to a focus on the company’s rivals CVS and Walgreens, who also made the big decision to closing hundreds of stores in 2025.
Several retailers currently have plans to close various stores. Some of these retailers and stores that have these plans are indicated below:
- Macy’s: Closing 66 stores in 2025.
- Overall plan to shutter about 150 stores by early 2027.
- CVS Health: Closed 900 stores between 2022-2024.
- Plans to close 270 more in 2025.
- Walgreens Boots Alliance: Closing 333 stores in 2025.
- Aimed at trimming underperforming locations.
- Party City: Closing 738 stores in 2025.
- The chain is being liquidated in Chapter 11 bankruptcy
- 7-Eleven: Closed 444 stores in 2024.
- Closing 148 more in 2025.
- Kohl’s: Closing 27 underperforming stores in 2025.
- Express: Closed 107-110 stores in the past year.
Reasons for closing United States Stores
There are usually several major reason why companies come to the conclusion to close stores. Generally, this is the last outcomes in order to do more or something new. 7-Eleven made the decision to get rid of the locations that has been underperforming. Meanwhile it has also been focusing on the remodelling of hundreds of stores and building new model 7-Elevens. In addition, several of these new stores include its Raise the Roost Chicken and Biscuits or its Laredo Taco concepts.
The new stores, he noted, are designed to meet changing consumer needs.
- Declining foot traffic: The company has been reporting a 7.3% decrease in store visits in August 2024, indicating a continuing a six-month downward trend.
- Decreased cigarette sales: The purchase of cigarette, which was once a significant revenue stream for convenience stores, have decreased by 26% since 2019. Other alternative nicotine products like Zyn have gained popularity. However, they have not compensated for the overall decline in tobacco sales.
- Shifting consumer preferences: There is an increased demand for affordable, high-quality food options. 7-Eleven is responding to this demand by expanding its fresh food and beverage offerings. By doing this the retailer is aiming to meet changing customer expectations.
What is next for the company?
Despite the closure of hundreds of stores, the company is still looking forward to expansion plans in the near future. According to the Chief Executive Officer (CEO) of 7-Eleven, Joe Depinto, the company is planning to open 125 new stores in 2025. He further stated that the retailer is also planning to be ramping up and growing the pipeline of plans to open more than 500 of these new stores by 2027.
Below are some of the information that 7-Eleven has for expansion:
- Currently, the retailer plans to have 500 new stores open in the United States and Canada by 2027, this is in the next two years.
- The retailer also has plans to expand with another 1,300 new stores in North America by 2030. This is part of the company’s five-year plan.
- It has a focus on several “New Standard” larger, food-centric convenience stores (over 600 of these by 2027)