7-Eleven plans to close more than 600 stores in 2026, outpacing its forecast 205 locations it plans to add this year.
The iconic name is the face of more than 13,000 convenience stores located in North America, The Associated Press reports, the next closest chain only operates 7,000.
Higher or lower gas prices?
The U.S. conflict with Iran has certainly caused consumers to feel the pain while pumping the gas tank as prices have shot up to a national average of $4.118, almost a dollar more than last year, according to AAA. California has seen prices rise to $5.844, the most of any other state.
But these closures may not have much impact on fuel prices.
Many of 7-Eleven’s stores are being reduced to wholesale fuel stores. Shutting down the convenience store portion and only supplying gas. These new wholesale fuel stores are not counted among 7-Eleven’s store count, the parent company Seven & i, told AP.
Convenience store transformation
Gas stations are attempting to change the way they try and make a profit. Instead of providing the cheapest gas price possible and hoping people come into the store to buy something, convenience stores are becoming the destination, Shell’s global manager of convenience retailing operations Richard Garcia told NIQ.
“The historical model for convenience, particularly in the U.S. is that you use fuel to attract people to your location,” he said. “That is absolutely changing to the store becoming the destination and while they’re there, you hope they might buy fuel”
7-Eleven closures have leaned into the new vision by shutting down low-performing stores and opening new locations with a wider array of options, including fresh food options.
In the shift, Seven & i expects to lose about $59.5 billion in the current fiscal year, AP reports.
New leadership
The 7-Eleven changes take place under new leadership. Stephen Hayes Dacus became chief executive of the Japanese parent company Seven & i last spring.
Dacus promised further growth for the company which has been thriving in the U.S., but amid tariffs, will need to adjust company practices.
“In that environment, you need to look harder at your supply chain, you need to make sure you squeeze your costs really tightly, so you have really good control of it,” Dacus told Reuters.
Removing low-performing stores seems to be the first step in cutting costs and raising revenue for the newly appointed chief executive.
Fitting in
As the convenience store continues to change, it will expand its delivery service options for its “7NOW” delivery service in response to lower foot traffic in stores, focusing on more fresh foods.
The store seems to be making adjustments to compete with stores like Maverik and Wawa who have made their stores destinations with wide varieties of food options, as well as increasing the ability to meet their customers where they are.