The parent company of 7-Eleven convenience stores shed more light on its plan to close hundreds of stores in the U.S. this year.
Parent company Seven & i Holdings indicated in a filing earlier this year that it planned to close 645 7-Eleven stores in the company's fiscal year 2026.
Seven & i Holdings' latest quarterly earnings report included a presentation about the company's various initiatives, including the restructuring of its store network amid the closure plans as well as conversion, remodels and new openings.
It said that it plans to close 200 unprofitable 7-Eleven stores in fiscal year 2026, with 45 stores closed to date.
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The company also said that it plans to convert 350 of its convenience stores to wholesale fuel sites in the fiscal year, with 72 stores having been converted as of the first quarter.
Seven & i Holdings is planning to convert 390 stores to franchises this fiscal year and has done 43 to date.
Despite the company's pullback, it's also pursuing selective expansion and is planning to open 205 stores this year. The presentation noted it had opened 30 to date in the first quarter.
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Seven & i Holdings' plans to remodel 200 stores this fiscal year are expected to get underway in the second half of the fiscal year.
Overall, the plans outlined by the company earlier this year show the total number of 7-Eleven stores in the U.S. declining from 12,712 as of February to 12,272 at the end of the year, for a net decrease of 440 stores.
In late 2024, the company reported having 13,145 7-Eleven locations.
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The company's North American business has faced softer performance amid declines in customer traffic, according to company data.
The planned closures come as Seven & i Holdings looks to streamline operations and optimize its store portfolio. The company didn't disclose which specific locations will be affected by the closures.
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FOX Business' Bradford Betz contributed to this report.
