7-Eleven, a major convenience store chain, plans to close 645 stores in North America by 2026, while opening 205 new locations. The closures are part of a shift towards wholesale fuel stores, which have been expanding in recent years. The company, owned by Japan-based Seven & i Holdings Co., has over 86,000 stores worldwide, with more than 13,000 in the U.S. and Canada. Rising gas prices and inflation are affecting consumer spending, particularly among low-income households. Seven & i is also focusing on growth by investing in fresh food and expanding its delivery service. The company expects a revenue drop of 9.4% this fiscal year. These changes come under the leadership of new CEO Stephen Hayes Dacus, who is steering the company through a transformation plan to enhance its convenience store offerings.
QUESTION: How might the closure of 7-Eleven stores impact local communities and the people who rely on them for everyday needs?
7-Eleven expects to close hundreds of its stores in North America this year
