7-Eleven to Build 500 ‘Food-Forward’ Stores Between 2025 and 2027
DePinto told investors that the new stores will offer a larger product assortment and expanded food and beverage offerings and also be more contemporary. They will also offer in-store seating and electric vehicle charging stations.
Earlier this month, 7-Eleven said it would close 444 underperforming stores in North America. In a filing, the company cited consumers pulling back on purchases due to inflation and continuing declines in cigarette sales as negatively impacting sales.
According to the presentation, the new store standard locations are outperforming 7-Eleven’s store network, with 13% higher same-store sales in the first year of opening.
“We’re projecting that at full maturity, four years, that these new standard-store sales will further increase by 30% to $8,219 average per store day,” DePinto said.
DePinto also said that 7-Eleven will continue to expand its proprietary products program and has invested in its food and beverage modernization program.
“It expands our assortment of hot food, which our customers seek, with grab-and-go cases, specialty beverages, self-serve roller grills and bake in-store food offerings,” he said.
7-Eleven operates, franchises or licenses more than 83,000 convenience stores in 19 countries and regions, including approximately 13,229 locations in the United States and Canada.
This article was originally reported by sister publication Chain Store Age.