By Arlenys Tabare
Recently, through a statement, The 7-Eleven convenience store chain announced the closure of approximately 600 locations this year.without yet specifying the reasons for the closures and which branches will no longer continue to operate.
The Irving, Texas-based company noted in a financial report last week that, “in North America, while the economy remained strong, Most domestic consumption also began to weaken, particularly among low-income households, since inflation continued to weigh down spending.”
According to the website of the retailer recognized among American consumers for selling basic food items, drugstores, soft drinks and private label products, It currently has about 13,000 stores in both the US and Canada.
Although 7-Eleven has been announcing for five consecutive years store closures mainly due to poor performancein the report also mentioned that this year it plans to open 205 locations.
Since last year, the company has been looking for growth and expansion opportunities, strengthening a large part of its stores, investing in a greater variety of foods and items, as well as improving your customer services with home deliveries with “7NOW”.
All of these changes come following the arrival of Stephen Hayes Dacus as the new CEO; however, The company anticipates that its revenue could still decrease by up to 9.4% in the face of geopolitical events and the contraction of the economy that affects consumer budgets.
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