7-Eleven Plans To Close 645 Stores In North America

7-Eleven, the iconic convenience store chain, has announced plans to close 645 locations across North America during its fiscal year 2026, which runs from March 1, 2026, to February 28, 2027. This decision marks a continuation of a trend that has seen the company close more stores than it opens for five consecutive years, according to recent earnings documents released by its parent company, Seven & i Holdings.

The closures will include some locations being converted into wholesale fuel stores, a strategy that is new for the company and not previously mentioned in its earnings reports. This shift reflects a broader strategic pivot aimed at transforming 7-Eleven into a neighborhood food destination, rather than merely a convenience retailer.

In addition to the closures, 7-Eleven plans to open over 200 new locations during the same fiscal year. These new stores will focus on a larger format and food-centric design, catering to changing consumer preferences that increasingly favor quality prepared foods and a wider selection of options.

Industry analysts have noted that convenience stores are experiencing a fundamental shift in their business model. Traditionally, fuel sales drove traffic to these stores, but recent trends indicate that food and beverages are becoming the primary attractions. According to the National Association of Convenience Stores (NACS), prepared food sales in the convenience sector rose 12% year over year, highlighting the industry's evolution.

7-Eleven's closures are part of a broader portfolio optimization strategy as the company prepares for a planned North American IPO, now expected in 2027. This delay, attributed to market uncertainty, has prompted 7-Eleven to streamline its operations and focus on higher-margin business models. The closures are not merely a sign of distress; instead, they represent a deliberate transformation of the brand.

In recent years, 7-Eleven has closed more than 600 locations combined in 2024 and 2025. The 645 planned closures for 2026 are the highest number in recent years, significantly exceeding previous years' closure rates, which typically ranged from 227 to 474. This acceleration in closures signals a shift in strategy as the company looks to remove underperforming stores that do not align with its new food-focused vision.

As 7-Eleven embarks on this transformation, it is also adopting a model similar to that of competitors like Wawa and Sheetz, which have successfully integrated food service into their offerings. The new store formats aim to combine convenience retail, food service, and grocery options, catering to the modern consumer's needs.

Yoshimichi Maruyama, Director, Managing Officer, and CFO of Seven & i Holdings, noted in January that the company is pursuing various "productivity improvement initiatives" and bringing some maintenance tasks in-house to reduce costs. These measures are part of the company's broader strategy to prepare for its delayed IPO.

Currently, 7-Eleven operates approximately 13,000 locations across the United States, Mexico, and Canada, with over 86,000 stores worldwide. The closures represent a strategic pruning of its North American footprint rather than a contraction of the brand itself.

As the convenience store sector continues to evolve, 7-Eleven's strategy reflects a broader industry trend where the focus is shifting from traditional retail models to those that prioritize food and customer experience. The company’s decision to convert some stores into wholesale fuel locations is indicative of this shift, allowing it to reduce operating costs and maintain revenue streams through third-party operators.

In the face of these changes, 7-Eleven remains committed to enhancing its in-store experience, with a focus on quality prepared foods and a wider selection of beverages. This transformation is about closing stores and about redefining what a convenience store can offer in today’s market.

As 7-Eleven prepares for its IPO and navigates the shifting consumer preferences, the upcoming fiscal year will be a telling period for the company. With a renewed focus on food service and a strategic overhaul of its store portfolio, 7-Eleven aims to emerge as a stronger player in the convenience store sector.

In a statement, the company emphasized its commitment to adapting to consumer trends, saying, "The locations being removed are those that cannot support the new model, and the new stores are built to execute it effectively." As the convenience store industry continues to evolve, 7-Eleven is positioning itself to meet the demands of a new generation of consumers.

As the fiscal year progresses, the impact of these closures and the opening of new locations will be closely watched by industry analysts and consumers alike. 7-Eleven's ability to adapt to these changes will be a key factor in its success as it prepares for an IPO that could redefine its future.