7-Eleven to open 1,300 stores in North America

The Japanese retail giant is embarking on the strategy following the failed takeover attempt by Canadian retailer Alimentation Couche-Tard Inc. In July, Couche-Tard, whose banners include Circle K, withdrew its $46 billion proposal to acquire Seven & i Holdings Co., citing a “lack of constructive engagement” by the Japanese company.

The new initiative includes the opening of 1,300, larger-format 7-Eleven convenience stores in North America (200 stores annually) and 1,000 stores in Japan through the year ending February 2031, Chain Store Age reports. (Seven & i Holdings Co. first announced its expansion plans it its fourth-quarter earnings presentation.)

“Sustaining success requires constant reinvention and innovation,” the company said in its transformation plan.

The company has identified negative consumer perceptions around fresh food as one of its key challenges and, as such, said it will invest in stores and equipment to create a “distinctive” food offering to address the need to “draw customers with more differentiation.” As part of the strategy it plans to add 1,100 restaurants by 2030.

Seven & i owns and operates more than 85,000 7-Eleven stores globally. It has more than 9,300 stores in the United States under the 7-Eleven, Speedway and Stripes brands