7-Eleven to Open 600 Food-Forward Stores

The large-format ‘New Standard’ stores will be a new concept for the company.

October 25, 2024

7-Eleven Inc. is planning to open over 600 large-format, food-focused convenience stores in North America by the end of 2027, company CEO Joe DePinto announced in an investor presentation hosted by parent company Seven & i Holdings.

The announcement follows a recent earnings call during which DePinto said the company will close over 400 stores this year. In that earnings call, DePinto emphasized that the company is focusing on food in its growth strategy going forward.

The new stores will be in what 7-Eleven called its New Standard format. The New Standards c-store “leveraged key learnings” from its Evolution store concept, which launched in 2019, DePinto said. The new format will include increased food and beverage offerings, as well as in-store seating and EV charging stations. The stores will also have “many of the same elements of the Evolution stores.”

According to DePinto, the New Standard stores that are already open have provided 7-Eleven with an 11% return on invested capital in addition to outpacing the total sales the Evolution stores made in its first year by 30%.

By the end of 2024, 7-Eleven plans to operate 115 New Standard locations. Between 2025 and 2027, the company plans to build 500 new stores. DePinto did not clarify where these locations will be built.

Aside from the new stores, DePinto also noted that 7-Eleven will continue to expand its proprietary products program and has invested in its food and beverage modernization program. “It expands our assortment of hot food, which our customers seek, with grab-and-go cases, specialty beverages, self-serve roller grills and bake in-store food offerings,” DePinto said.

The program is currently in almost 5,000 stores and the company plans to roll out the program to an additional 1,900 stores by the end of 2024. In Q1 of 2025, 650 more stores will also receive the program, with plans for continued expansion. These stores will either receive the full proprietary products program, or elements of the program which they have not yet received, DePinto stated.