The convenience store giant 7-Eleven is poised to close 645 locations across North America during fiscal 2026, a move that underscores a significant shift in its business strategy. This decision reflects ongoing challenges in the retail sector, particularly as consumer preferences evolve and traditional profit drivers wane.
Fiscal 2026, which runs from March 1, 2026, to February 28, 2027, will see 7-Eleven close more stores than it opens for the sixth consecutive year. The company has already shuttered over 600 stores in 2024 and 2025 combined, indicating a troubling trend for the convenience store chain.
These closures are part of a broader transition to a new food-focused store format. 7-Eleven is moving away from its small, traditional shops, opting instead for larger stores that emphasize fresh food offerings. This shift is in response to a 12% increase in sales of prepared foods across the convenience store sector, highlighting changing consumer demands.
In 2024, the company announced plans to close 444 underperforming stores, which represented about 3% of its North American base. The closures are described as “portfolio optimization”—a corporate strategy aimed at cutting loose underperforming locations.
Despite the closures, 7-Eleven plans to open more than 200 new locations in fiscal 2026, suggesting a strategic pivot rather than a retreat. Some of the closed locations will be converted into wholesale fuel stores, which will not count against the total store count.
Weak sales in traditional categories, particularly tobacco, have also played a role in this restructuring. Cigarette sales have plummeted by 26% since 2019, significantly impacting convenience store profits. As a result, 7-Eleven is adapting to a market that increasingly favors high-margin prepared foods over traditional offerings.
Stan Reynolds, a spokesperson for 7-Eleven, noted that these food-forward stores are resonating with customers, driving average sales per store day about 18% higher than the system average. This positive response indicates a potential path forward for the chain amidst its ongoing challenges.
The company’s IPO has been delayed by at least 11 months due to market uncertainty, adding another layer of complexity to its operational adjustments. As 7-Eleven navigates these changes, the future of its retail strategy remains under scrutiny.
Details remain unconfirmed regarding the exact locations of the closures and the anticipated impact on employees. As the company continues to adapt, further developments in its restructuring efforts are expected in the coming months.
