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  • AZCentral | The Arizona Republic

    7-Eleven plans to shutter 444 stores. Will any Arizona stores be closing?

    By Betty Lin-Fisher and Shelby Slade, Arizona Republic,

    2 days ago

    https://img.particlenews.com/image.php?url=04KpUB_0wAjUGGC00

    7-Eleven is closing more than 400 stores in the United States and Canada, officials said, crediting fewer sales due to inflation and continued declines in cigarette sales.

    The 444 stores to close are among 13,000 stores the convenience chain has in the United States and Canada. A list of stores to close was not released by the company, which announced the plan to shutter the stores during its most recent earnings call late last week.

    7-Eleven is not the only store shuttering locations due to declining sales. Walgreens recently announced closures and a host of others to close stores or declare bankruptcy this year, including Hooters , Red Lobster , Bed Bath & Beyond and Big Lots .

    Here's what Arizona shoppers need to know about the 7-Eleven closures and locations in the state.

    Will 7-Eleven stores in Arizona close?

    The company didn't release a list of stores and 7-Eleven did not immediately respond to the USA TODAY Network's request for a list of locations closing.

    More: Walgreens plans to close 1,200 more stores. How many Arizona stores are at risk?

    When will 7-Eleven stores close?

    The closures were expected to happen in the fourth quarter of this year, officials said.

    Why is 7-Eleven closing stores?

    Traffic and sales were challenged "as consumers pull back due to inflationary pressure," according to 7-Eleven, and consumer cigarette sales continue to decline industry-wide.

    To counteract its recent challenges, the company said it would grow its proprietary products, including fresh food and its proprietary beverages, accelerate digital and delivery, including continued growth in its loyalty program and grow and enhance its store network.

    Seven & i Holdings , the parent company of 7-Eleven, also said it would bundle some of its "non-core assets" into a new holding company and rename itself '7-Eleven Corp' to emphasize the focus on its profitable convenience stores.

    After rejecting a bid in August by the operator of Circle K, Alimentation Couche-Tard, the Japanese operator of 7-Eleven stores is facing pressure to convince investors it can enhance value, saying it undervalued the company and its growth potential.

    The new holding company, to be called York Holdings, is set to house 31 subsidiaries, including the group's superstores business, general goods store Loft, baby goods store Akachan Honpo and the operating company of Denny's restaurants in Japan.

    More Big Lots in Arizona are closing: Here's which stores are affected and which remain

    This article originally appeared on Arizona Republic: 7-Eleven plans to shutter 444 stores. Will any Arizona stores be closing?

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