7 Eleven is poised to close 645 convenience stores in North America during fiscal 2026, a move that underscores a significant transition in the company’s business strategy. This decision is part of a broader effort to shift away from traditional small shops towards larger, food-focused store formats.
The fiscal year for 2026 runs from March 1, 2026, to February 28, 2027. This closure plan follows a trend where 7 Eleven has closed more stores than it has opened for five consecutive years. In fact, the company has already shuttered over 600 locations across 2024 and 2025 combined, including 444 underperforming stores announced for closure in 2024, which represented about 3% of its North American base.
As part of this strategic shift, some locations will be converted into wholesale fuel stores, which will not be counted in the overall store closure tally. The company aims to capitalize on the growing demand for prepared foods, which saw a 12% increase in sales across the convenience store sector in a single year.
Stan Reynolds, a spokesperson for 7 Eleven, noted, “These food-forward stores are resonating with our customers and driving average sales per store day about 18% higher than our system average.” This reflects a broader change within the convenience store industry, where traditional profit drivers such as tobacco and fuel are increasingly being supplemented or replaced by high-margin prepared foods.
Despite the closures, 7 Eleven is expected to open more than 200 new locations in North America during fiscal 2026. This expansion is part of a long-term strategy to optimize its portfolio, which the company describes as “portfolio optimization” — a term that essentially refers to cutting underperforming stores loose.
However, the company faces challenges, including a significant decline in cigarette sales, which have plunged 26% since 2019, impacting overall convenience store profits. Additionally, the anticipated initial public offering (IPO) for 7 Eleven has been delayed by at least 11 months due to ongoing market uncertainty.
As 7 Eleven continues to navigate these changes, the future of its store format and overall strategy remains to be seen. Details remain unconfirmed regarding how many of the closures will lead to new openings and how the company will adjust to shifting consumer preferences in the convenience store market.
