Sat Oct 12 08:20:00 UTC 2024: ## 7-Eleven to Close Nearly 450 Stores Amid Sales Slump

**New York, NY** – 7-Eleven, the ubiquitous convenience store chain, announced plans to close nearly 450 stores across North America due to declining sales, particularly in cigarette sales, and decreased customer traffic. The closures, representing roughly 3% of the company’s total portfolio, will affect stores in both the United States and Canada.

The decision comes after six consecutive months of declining traffic for 7-Eleven, including a 7.3% drop in August. The company cited the impact of inflation, rising interest rates, and a challenging employment environment as factors contributing to the sales decline.

Seven & I Holdings, the Japan-based parent company of 7-Eleven, highlighted the significant drop in cigarette sales, a once-dominant category for convenience stores. Cigarette sales have fallen by 26% since 2019, and a shift towards other nicotine products has not offset the decline.

In response to these challenges, 7-Eleven is pivoting its focus towards food sales, which have now become the company’s highest-selling category. The company plans to transform its stores to better cater to this growing demand, offering a wider selection of food items including popular international options.

“We strive to be a world-class retail group centered around food that leads retail innovation through global growth strategies centered on the 7-Eleven business and proactive utilization of technology,” Seven & I Holdings said in a statement.

While the specific locations of the closures were not released, the company emphasized its commitment to evolving and adapting to changing market conditions to ensure its future success.

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