Convenience store giant 7-Eleven announced that over 400 "underperforming" stores in North America, with the news being delivered by the company's CEO on an earnings call last week.
The chain cited inflation, lower store traffic and lower cigarette sales as well as a shift in what consumers are looking for as the culprit behind the closures.
According to NPR, the chain's parent company saw a 7.3% traffic decline in August, attributing the shift to low-income customers taking "a more prudent approach to consumption."
The closures will impact 3% of the chain's current total across the United States and Canada, which is above 13,000 stores.
In response to changing consumer habits, the chain plans to offer more fresh food and specialty beverages, while also shifting focus to invest in higher-demand locations.
It's currently unknown which locations will be impacted by the closures, with the chain also telling NPR that new stores opening in high-demand locations also remains a possibility.
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