<body><div><figure><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=2TDXjU_0wNgmN9Z00" alt="https://img.particlenews.com/image.php?url=2TDXjU_0wNgmN9Z00" width="620" height="348" ></figure><p><b>Spread the love</b></p><p>According to The Sun, 7-ELEVEN’s CEO has unveiled plans to open an impressive 600 new stores by the end of 2027, introducing a fresh design that will set these locations apart from the existing ones. The new stores will feature a large-format and food-focused approach, marking the debut of the company’s New Standard stores across North America.</p><p>In an announcement to investors, CEO Joseph DePinto highlighted the innovative offerings of these upcoming locations. He described the New Standard stores as “more contemporary facilities” with “a larger product assortment and expanded food and beverage offerings” compared to traditional 7-Eleven stores. This new format is the first major prototype since the company introduced its Evolution store concept in 2019.</p><h2>Leveraging Insights from Evolution Stores</h2><p>DePinto noted that the retailer has “leveraged key learnings” from its Evolution stores to develop the New Standard format. These new locations will incorporate features like in-store seating and electric vehicle charging stations, enhancing the overall customer experience. While the total number of New Standard convenience stores currently in operation is unclear, the first one opened approximately a month ago in Allen, Texas.</p><p>The early results for these New Standard stores are promising, with DePinto reporting an impressive 11 percent return on invested capital. Additionally, these new locations have outperformed the total sales of Evolution stores in their first year by 30 percent, as outlined in the latest investment presentation.</p><h2>Future Growth Plans</h2><p>7-Eleven plans to operate 115 New Standard locations by the end of 2024, with an ambitious goal of adding 125 in 2025, 175 in 2026, and 200 in 2027. However, the specific locations for these new openings have not yet been disclosed.</p><p>Despite these exciting developments, 7-Eleven also announced plans to close down “underperforming” locations amid a challenging retail landscape. A total of 444 stores will be shuttered, contributing to the company’s efforts to streamline operations. Last month, the world’s largest convenience store retailer agreed to sell an undisclosed number of properties in North America via sale-leaseback, anticipating a significant profit of $520 million from the deal, which is expected to close in February 2025.</p><p>In light of these changes, 7-Eleven acknowledged facing a tough consumer spending environment, particularly among lower and middle-income earners. They noted that consumers have adopted “a more prudent approach to consumption,” resulting in a “growing polarization of consumption” due to declining labor incomes, inflationary pressures, and high interest rates.</p><p>With these strategic expansions and adaptations, 7-Eleven aims to meet the evolving needs of its customers while navigating the complexities of the current retail environment.</p></div></body>

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FRESH START: 7-Eleven CEO reveals plans to open 600 ‘food and beverage forward’ stores that feature a completely new design

According to The Sun, 7-ELEVEN’s CEO has unveiled plans to open an impressive 600 new stores by the end of 2027, introducing a fresh design that will set these locations apart from the existing ones. The new stores will feature a large-format and food-focused approach, marking the debut of the company’s New Standard stores across North America.