{"id":2354812,"date":"2024-10-14T17:32:02","date_gmt":"2024-10-14T21:32:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/7-eleven-announces-massive-wave-of-400-store-closures\/"},"modified":"2024-10-14T17:33:41","modified_gmt":"2024-10-14T21:33:41","slug":"7-eleven-announces-massive-wave-of-400-store-closures","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/7-eleven-announces-massive-wave-of-400-store-closures\/","title":{"rendered":"7-Eleven Announces Massive Wave of 400+ Store Closures"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2F7-eleven-announces-massive-wave-of-400-store-closures%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2354812&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>7-Eleven has\u200c announced the closure of\u200d over 400\u200c stores in North \u200cAmerica,\u2064 as reported in a recent\u2063 earnings statement from\u200d its parent company, Seven \u200b&#038; I Holdings. This decision impacts the\u200b more\u2064 than 13,000 locations across the U.S., Canada, and Mexico. The closures are\u2062 attributed to multiple factors, including \u200da significant 7.3% decline in\u2064 customer\u200c traffic over six consecutive months, driven \u2063by rising inflation and\u200d changes in consumer\u200d spending\u200d habits among middle- and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bidenflation-causes-dollar-tree-to-raise-prices-by-25-percent-to-1-25\/\" title=\"Bidenflation Causes Dollar Tree to Raise Prices by 25 Percent to .25\">low-income consumers<\/a>.<\/p>\n<p>Additionally, the decline in cigarette \u2064sales, which have \u2064fallen \u2064by 26% since\u200c 2019, \u2064and\u200d growing competition\u2063 from\u2062 online and discount retailers have\u2063 further\u200c exacerbated the situation. Retail analyst Neil \u2064Saunders characterized the\u2062 closures as necessary\u200b to enhance the \u2064chain&#8217;s efficiency and\u2063 profitability. \u2064Despite trimming underperforming locations, 7-Eleven plans to open new stores in markets where\u200b there\u2063 is a demand for convenience.<\/p>\n<p>The report also highlighted concerns\u2063 about the current employment environment and \u2063potential impacts from proposals for increasing the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/cbo-estimates-biden-plan-to-raise-minimum-wage-to-15-could-kill-almost-4-million-jobs\/\" title=\"CBO Estimates Biden Plan To Raise Minimum Wage To  Could Kill Almost 4 Million Jobs\">federal minimum wage<\/a>. For convenience stores, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/meta-facebook-downsizing-hiring-plans-amid-warnings-of-layoffs\/\" title=\"Meta (Facebook) Downsizing Hiring Plans Amid Warnings of Layoffs\">high employee turnover<\/a> and rising \u2063wages may lead to increased operational costs, driving \u2063price increases and potentially reducing\u2064 workforce hours.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<section> <script>console.log(\"ad slot (AC1)\")<\/script><script>console.log(\"ad slot (IC1)\")<\/script><script>console.log(\"ad slot (IC2)\")<\/script><script>console.log(\"ad slot (IC3)\")<\/script><script>console.log(\"ad slot (IC4)\")<\/script><\/p>\n<p style=\"font-weight: 400;\">More than 400 7-Eleven stores in North America are closing, the company has announced.<\/p>\n<p style=\"font-weight: 400;\">The announcement was made in an earnings report issued last week by Seven &amp; I Holdings, the Japan-based parent company of the chain, according to <a href=\"https:\/\/www.cnn.com\/2024\/10\/11\/business\/7-eleven-closures\/index.html\" target=\"_blank\" rel=\"noopener\">CNN<\/a>.<\/p>\n<p style=\"font-weight: 400;\">No list of what the report called &ldquo;underperforming&rdquo; stores was released. There are more than 13,000 7-Eleven stores in Canada, Mexico and the United States.<\/p>\n<p style=\"font-weight: 400;\">The report said what it called a &ldquo;more prudent approach to consumption&rdquo; from middle- and low-income earners had hit stores due to <a href=\"https:\/\/www.westernjournal.com\/americas-biggest-french-fry-producer-forced-make-significant-cuts-inflation-takes-toll\/\" target=\"_blank\" rel=\"noopener\">inflation<\/a>.<\/p>\n<p style=\"font-weight: 400;\">Collectively, these factors led to a 7.3 percent traffic decline in August, the sixth straight month of declines.<\/p>\n<p> <script type=\"text\/javascript\"> \t\t\tif ( getCookie( \"ff_subbed\" ) ) { \t\t\t\tdocument.getElementById(\"stnvideo\").remove() \t\t\t} \t\t<\/script> <\/p>\n<p style=\"font-weight: 400;\">Although cigarette purchases were once a staple of convenience store sales, sales of cigarettes have dropped 26 percent since 2019.<\/p>\n<p style=\"font-weight: 400;\">7-Eleven said it will &ldquo;open stores in areas where customers are looking for more convenience&rdquo;<\/p>\n<p style=\"font-weight: 400;\">The closures were called a &ldquo;gentle pruning of the chain to keep it efficient and profitable,&rdquo; by Neil Saunders, a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/stocks-suffered-their-worst-day-of-the-year-on-tuesday\/\" title=\"Stocks Suffered Their Worst Day of the Year on Tuesday\">retail industry analyst<\/a> and managing director with GlobalData Retail.<\/p>\n<p style=\"font-weight: 400;\">&ldquo;The locations being closed have likely suffered from a disproportionate decline in foot traffic and customers as consumers battle with rising food prices and cut back on the amount they buy,&rdquo; he said.<\/p>\n<p style=\"font-weight: 400;\">&ldquo;In some areas, increased competition from online and value stores will also have taken their toll as consumers seek out lower prices,&rdquo; he said.<\/p>\n<p style=\"font-weight: 400;\">A &ldquo;deteriorating&rdquo; <a href=\"https:\/\/www.westernjournal.com\/biden-dems-blame-lower-wages-higher-gas-prices-inflation\/\" target=\"_blank\" rel=\"noopener\">employment environment<\/a> was also cited in the report.<\/p>\n<p style=\"font-weight: 400;\">That could become even more serious if Vice President <a href=\"https:\/\/www.westernjournal.com\/truth-bomb-drops-kamala-harris-cnn-panel-visibly-furious-hearing-democrats-undeniable-mistake\/\" target=\"_blank\" rel=\"noopener\">Kamala Harris<\/a> is elected president.<\/p>\n<p style=\"font-weight: 400;\">Harris has indicated that she wants an increase in the federal minimum wage of $7.25 per hour and has praised states that raised their minimum wage to $15 an hour, according to <a href=\"https:\/\/www.cnbc.com\/2024\/08\/16\/federal-minimum-wage-has-been-7point25-for-15-years-how-that-may-change.html\" target=\"_blank\" rel=\"noopener\">CNBC<\/a>.<\/p>\n<p style=\"font-weight: 400;\">Harris has not called for a specific new minimum wage.<\/p>\n<p style=\"font-weight: 400;\">Convenience stores have had years of turnover rates topping 100 percent, with 36 percent of employees quitting after a month, <a href=\"https:\/\/www.hrdive.com\/news\/convenience-store-pay\/708153\/\" target=\"_blank\" rel=\"noopener\">HR Dive<\/a> reported.<\/p>\n<p style=\"font-weight: 400;\">However, increasing wages only begins a ripple effect, as <a href=\"https:\/\/www.scrippsnews.com\/politics\/economy\/nearly-every-fast-food-restaurant-in-california-raised-prices-due-to-minimum-wage-law-survey-finds\" target=\"_blank\" rel=\"noopener\">Scripps News<\/a> reported in discussing California&rsquo;s $20 minimum wage for fast food workers.<\/p>\n<p style=\"font-weight: 400;\">A survey from the Employment Policies Institute showed 98 percent of affected restaurants hit by the wage increase <a href=\"https:\/\/www.westernjournal.com\/kamala-harris-mcdonalds-story-called-question-details-dont-seem-add\/\" target=\"_blank\" rel=\"noopener\">increased prices<\/a>. Meanwhile, 89 percent reduced hours for their employees, 73 percent limited overtime or added shifts and 70 percent cut jobs.<\/p>\n<div style=\"position: relative;\">\n<div class=\"ff-fancy-header-container\">  <\/div>\n<div class=\"entry-submit-correction inner-content\">\n<div class=\"correction-form\">\n<form style=\"display: none;\">\n<div class=\"sc-name-field\"> <label>* Name<\/label> <br \/> <input type=\"text\" name=\"name\" required> <\/div>\n<div class=\"sc--field\"> <label>* <\/label> <br \/> <input type=\"text\" name=\"\" required> <\/div>\n<p> <label>* Message<\/label> <br \/> <textarea name=\"message\" required><\/textarea>  <\/p>\n<div class=\"required-message\" style=\"display: none; padding-bottom: 15px;\">* All fields are required.<\/div>\n<p> <input type=\"submit\" value=\"Submit\" onclick=\"event.preventDefault(); firefly_sc();\">  <\/p>\n<div class=\"firefly-sc-confirm\" style=\"display: none;\">Success!<\/div>\n<\/p><\/form>\n<\/p><\/div>\n<\/p><\/div>\n<p> <script> \t\t\tfunction firefly_sc() { \t\t\t\tif( typeof window.captchaPublicKey==typeof undefined ){ \t\t\t\t\tconsole.error('window.captchaPublicKey is not defined'); \t\t\t\t} \t\t\t\tgrecaptcha.execute( window.captchaPublicKey, { action: 'submit_correction' } ).then( function( token ) { \t\t\t\t\tvar opts={ \t\t\t\t\t\taction:    'firefly_sc_submit', \t\t\t\t\t\tname:      document.querySelector( '.entry-submit-correction [name=\"name\"]' ).value, \t\t\t\t\t\t:     document.querySelector( '.entry-submit-correction [name=\"\"]' ).value, \t\t\t\t\t\tmessage:   document.querySelector( '.entry-submit-correction [name=\"message\"]' ).value, \t\t\t\t\t\tpost_id:   firefly_post_id, \t\t\t\t\t\tcap_token: token \t\t\t\t\t}  \t\t\t\t\tvar inputs=[ 'name', '', 'message' ];  \t\t\t\t\tfor( var i=0; i <inputs.length; i++ ) if( ! ( opts[inputs[i]]=document.querySelector( '.entry-submit-correction [name=\"' + inputs[i] + '\"]' ).value ) ) { \t\t\t\t\t\tdocument.querySelector( '.entry-submit-correction .required-message' ).style.display='block'; \t\t\t\t\t\treturn; \t\t\t\t\t}  \t\t\t\t\tdocument.querySelector( '.entry-submit-correction input[type=\"submit\"]' ).style.display='none'; \t\t\t\t\tdocument.querySelector( '.entry-submit-correction .firefly-sc-submitting-img' ).src=firefly_loading_gif_url; \t\t\t\t\tdocument.querySelector( '.entry-submit-correction .firefly-sc-submitting-img' ).style.display='inline-block';  \t\t\t\t\tconsole.log( 'ma subbing' );  \t\t\t\t\tif( firefly_post_id ) opts['post_id']=firefly_post_id;  \t\t\t\t\t\/* Send the data using post with element id name and name2*\/ \t\t\t\t\tvar posting=jQuery.post( firefly_ajax_url, opts );  \t\t\t\t\t\/* Alerts the results *\/ \t\t\t\t\tposting.done( function( response ) { \t\t\t\t\t\tif( response.success ) { \t\t\t\t\t\t\tconsole.log( response.data ); \t\t\t\t\t\t\tdocument.querySelector( '.entry-submit-correction .firefly-sc-submitting-img' ).style.display='none'; \t\t\t\t\t\t\tdocument.querySelector( '.entry-submit-correction .firefly-sc-confirm' ).style.display='block';  \t\t\t\t\t\t\tdataLayer.push( { 'event': 'submit-correction' } ); \t\t\t\t\t\t} \t\t\t\t\t}); \t\t\t\t}); \t\t\t} \t\t<\/script>  <\/div>\n<p style=\"border: 1px solid #f5f5f5; padding: 16px;\">Advertise with The Western Journal and reach millions of highly engaged readers, while supporting our work. <a href=\"https:\/\/www.westernjournal.com\/advertise-us\/?wj_source=article\">Advertise Today<\/a>.<\/p>\n<p><script>console.log(\"ad slot (BA1)\")<\/script> <\/p>\n<div class=\"ff-fancy-header-container\">  <\/div>\n<style> \t\t\t \t\t\t.insticator-unit.type-commenting{margin: 0 10px 25px 10px}@media screen and (max-width:1060px){#div-insticator-ad-cmt-1, #div-insticator-ad-cmt-2, #div-insticator-ad-cmt-3, #div-insticator-ad-cmt-4{margin: 0 auto 25px auto !important;}}#div-insticator-ad-cmt-1, #div-insticator-ad-cmt-2, #div-insticator-ad-cmt-3, #div-insticator-ad-cmt-4{height: 280px !important; width: 336px !important} \t\t<\/style>\n<div class=\"insticator-unit type-commenting\">\n<div class=\"insticator-ads\">   <script data-cfasync=\"false\" type=\"text\/javascript\"> \t\t\t\t\tif ( ! getCookie( \"ff_subbed\" ) ) { \t\t\t\t\t\tInsticator.ad.loadAd(\"div-insticator-ad-cmt-1\"); \t\t\t\t\t\tInsticator.ad.loadAd(\"div-insticator-ad-cmt-2\"); \t\t\t\t\t} else { \t\t\t\t\t\tdocument.getElementById(\"div-insticator-ad-cmt-1\").remove() \t\t\t\t\t\tdocument.getElementById(\"div-insticator-ad-cmt-2\").remove() \t\t\t\t\t} \t\t\t\t<\/script> <\/div>\n<div class=\"insticator-ads additional\">   <script data-cfasync=\"false\" type=\"text\/javascript\"> \t\t\t\t\tif ( ! getCookie( \"ff_subbed\" ) ) { \t\t\t\t\t\tInsticator.ad.loadAd(\"div-insticator-ad-cmt-3\"); \t\t\t\t\t\tInsticator.ad.loadAd(\"div-insticator-ad-cmt-4\"); \t\t\t\t\t} else { \t\t\t\t\t\tdocument.getElementById(\"div-insticator-ad-cmt-3\").remove() \t\t\t\t\t\tdocument.getElementById(\"div-insticator-ad-cmt-4\").remove() \t\t\t\t\t} \t\t\t\t<\/script> <\/div>\n<\/p><\/div>\n<\/section>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Over 400 7-Eleven locations in North America are set to close, as announced by the company. This information was revealed in an earnings report from Seven &amp; I Holdings, the Japan-based parent company, according to CNN. The report did not provide a list of the &#8220;underperforming&#8221; stores. There are over 13,000 7-Eleven outlets across Canada, Mexico, and the U.S. The report indicated that inflation has led to a &#8220;more prudent approach to consumption&#8221; among middle- and low-income consumers, contributing to a 7.3% decline in store traffic for August\u2014the sixth consecutive month of decreases<\/p>\n","protected":false},"author":1,"featured_media":2354813,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/10\/7-Eleven.jpg","fifu_image_alt":"","footnotes":""},"categories":[33651],"tags":[42997,42999,43000,42998,33086],"class_list":["post-2354812","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-western-journal","tag-7-eleven","tag-business-updates","tag-convenience-stores","tag-retail-news","tag-store-closures"],"fifu_image_url":"https:\/\/www.westernjournal.com\/wp-content\/uploads\/2024\/10\/7-Eleven.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2354812","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2354812"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2354812\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2354813"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2354812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2354812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2354812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}