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This is a sign this-is-fine

“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.

  • AnderenortsfalschEnglish
    26·
    2 months ago

    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!