FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
Anthropic Eyes $350 Billion Valuation as AI Funding and Share Sale Accelerate 
Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile 
Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch 
Instagram Outage Disrupts Thousands of U.S. Users 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Ford and Geely Explore Strategic Manufacturing Partnership in Europe 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
Nvidia CEO Jensen Huang Says AI Investment Boom Is Just Beginning as NVDA Shares Surge 
7-Eleven, Inc., an American convenience store chain owned by Japan's Seven & I Holdings but headquartered in Irving, Texas, revealed it aims to expand its brand further worldwide. For this, it will implement its aggressive growth plan, which will mainly involve food and beverage (F&B) programs.
Expansion and Restructuring to Ramp Up Global Growth
According to Reuters, Seven & I Holdings said on Tuesday, April 23, that it would like to see massive growth for its 7-Eleven brand of convenience stores worldwide. As part of this venture, the company will speed up its entry into key markets such as the Middle East, Europe, Africa, and Latin America.
The Japanese retail giant's target is to increase the global number of 7-Eleven stores by 18% to around 100,000 by 2030. It will also work on bringing the convenience store brand to 30 more countries and regions.
The growth plan is part of 7-Eleven's large-scale restructuring, which involves selling underperforming grocery stores. The company is also pursuing this due to pressure from activist investors.
Putting More Focus on Food and Beverage
At any rate, 7-Eleven also said it will expand its food and beverage program this year. The chain wants to increase its operating income by $113 million; to achieve this, it will focus on fresh food and expanding its private brands.
NACS reported that 7-Eleven has a food and beverage modernization program, including self-serve roller grills and specialty hot beverages, which are currently being implemented in 500 stores. The company will roll out these new programs to 2,500 branches in 2024.
"We expect to see a challenging start to 2024," Joe DePinto, president and chief executive officer of 7-Eleven, said during the recent fourth-quarter earnings call. "However, we have aggressive plans in place, and we will accelerate our investments expanding our food and beverage modernization platforms in our stores, refreshing our stores' exteriors and interiors, and enhancing overall operational execution."
Photo by: Duy Nguyen/Unsplash
