National store closings and sales have led many to question the health of the perennial convenience company.
This article is based on corporate postings and accredited media reports. All linked information within this article is fully-attributed to the following outlets: Hoodline.com, Google.com, BizQuest.com, Wikipedia.org, Statistica.com, and CompaniesMarketCap.com.
In an updated article from March, 2021, Hoodline.com reported the permanent closure of one of San Francisco’s most highly-trafficked 7-Eleven locations. The article was entitled “Castro’s Long-Troubled 7-Eleven Closes Permanently,” and it stated: Rumors of the closure had been swirling for weeks, but no one from 7-Eleven corporate responded to repeated requests for comment. On a recent visit to the store prior to its closure by a Hoodline reporter, two 7-Eleven employees confirmed the store would be closing. According to the employees, 7-Eleven decided to close the store due to a rent increase.
There appear to have been other reasons, all covered in the article; regardless, the high-profile nature of this particular closing received a great deal of attention as a targeted Google search verifies.
Such a Google search, in fact, lists dozens of 7-Eleven locations presently for sale. See here, as an example, for BizQuest.com’s listing, “California 7-Elevens For Sale,” which includes three active sales in the state at the time of this writing.
Explore further, and one will find 7-Eleven locations being sold worldwide.
Is this the sign of a larger issue?
Plans For 7-11, 2022
Wikipedia.org’s 7-Eleven page offers a comprehensive overview of the company. From the page: 7-Eleven, Inc. (stylized as 7-ELEVEN) is an American multinational chain of retail convenience stores, headquartered in Dallas, Texas. The chain was founded in 1927 as an ice house storefront in Dallas. It was named Tote'm Stores between 1928 and 1946. After 70% of the company was acquired by an affiliate Ito-Yokado in 1991, it was reorganized as a wholly owned subsidiary of Seven & I Holdings. 7-Eleven operates, franchises, and licenses 78,029 stores in 19 countries and territories as of November 2021.
Japan currently maintains the most 7-Eleven locations, at 20,988. The United States operates nearly 10,000 locations, both according to Wikipedia and Statistica.com, the latter which has tracked up to 2020.
Rumors of the company going out of business proliferate online, likely in response to the myriad closings and sales frequently listed, such as those above.
The company, though, is not closing permanently. Some individual stores may shutter, though the company as a whole is in positive financial condition. See here for updated report on CompaniesMarketCap.com, which states, regarding 2021 revenue: According to 7-Eleven 's latest financial reports the company's current revenue (TTM) is $69.15 B. In 2020 the company made a revenue of $55.95 B a decrease over the years 2019 revenue that were of $61.45 B.The revenue is the total amount of income that a company generates by the sale of goods or services. Unlike with the earnings no expenses are subtracted.
7-Eleven remains the world’s most financially successful convenience store company, with year-to-year growth. Despite rumors, there are no authentic indicators of this trend abating.
Some stores may permanently close in 2022 as with prior years, but the company as a whole continues to thrive.
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