This is a sign 
“The North American economy remained robust overall thanks to the consumption of high-income earners, despite a persistently inflationary, elevated interest rate and deteriorating employment environment. In this context, there was a more prudent approach to consumption, particularly among middle- and low-income earners,” Seven & I said in an earnings release.
Anti trust maneuvering
https://www.restaurantbusinessonline.com/operations/7-eleven-close-444-north-american-stores - Archive
The closures come amid a broader strategic shift for Tokyo-based 7 & i as it works to fend off a takeover bid by rival Alimentation Couche-Tard, the owner of Circle K. The deal would bring together the two largest c-store chains in the country.
Earlier this week, Couche-Tard raised its offer to acquire Seven & i from $14.86 per share, or approximately $39 billion, to $18.19 per share, or approximately $47.2 billion.
On Thursday, 7 & i announced that it is creating a separate company for its non-convenience-store businesses, such as supermarkets and specialty stores, so that it can focus more on c-stores. The spun-off company will be called York Holdings Co.
To further illustrate its c-store focus, 7 & i is also considering changing its name to 7-Eleven Corp.
after i quit smoking, my convenience store trips dropped by like 99%. it was one of those changes i didn't notice happening until i was across the street from the one by my house i used to hit all the time, and realized it had been completely remodeled. like a "huh, when did that happen" thing. when i shifted to remote/hybrid work, my driving dropped radically too. all i noticed was i was hardly putting any miles on my car anymore, but again.... my trips even to get gas at a c-store were now marked by the passage of months rather than "every week or so". and since i started limited my snackiness and drinking of nonsense, i have no reason to go inside anymore.
the markup on those places is insane. their value proposition is their location making them the only option for people living in a mutilated community and for people passing through with an impulse, and if you're not going in for tobacco you can probably get what you're looking for at those chain joints like Walgreens or CVS... also marked up, but usually not by as much. it feels like with the decline of tobacco and utter dominance of pharma in peoples lives, those places are taking over. it's no longer "ill pick up some cereal and snacks when i get smokes".... it's "i'll pick up some cereal and snacks when i get my pills."
it's no longer "ill pick up some cereal and snacks when i get smokes".... it's "i'll pick up some cereal and snacks when i get my pills."
Probably going to get some good milage out of this one.
The chain also pointed out that cigarette sales, once the largest sales category for convenience stores, has fallen 26% since 2019. A shift in sales to other nicotine products hasn’t made much of a difference, they said.
I consider that good news and hope the people loosing their workplace find something better soon!
Honestly I'd only ever visit a 7-11 by choice if the one by me starts carrying any of the food the Japanese ones serve
As well as menu that is exclusive to certain countries. Philippine Seven Corp, the Philippine franchisee of 7-Eleven, has powerbank, charger and wired earbuds in addition to 7-Fresh lineup.
They just closed several in my city and have been trying to push the “its because of theft” angle which the media just absolutely loves. In my opinion they were looking for gov handouts and were going to close them anyway.
Reading this basically confirms my suspicions. They closed 711s in lower income areas not because of crime but because there are fewer and fewer people spending $5 on a soda or $25 on a pack of smokes. Who ever could guess why that might be ? Does my head in
Instead of markets it's jacked up carnival ride prices in low income areas. Though tbf their store brand since they bought a cubic ass ton of Speedway stores just a few years ago was a relative good value, and you could find more products without HFCS in them.
They often compete with ma and pop stores and Dollar Generals between the Walgreens and CVS'
but i thought there were no remotely walkable cities outside like NYC. where are all these 7s located?
like in every city i've been to around the world, a convenience store is something you walk to on the way to something else, or next to the train/subway station, or one minute from your home/job/school. it's not in a mall or a gas station
yes high income earners are notorious for buying over priced bullshit from 7 elevens
