Early Peek at 7-Eleven's U.S. Growth Plan

TOKYO -- 7-Eleven’s Tokyo-based parent company intends to more than double the chain’s roughly 8,500 United States locations to up to 20,000 stores over the coming years, reported The Japan Times.

The plans, as reported in a McLane/CSP Daily New Flash,  were announced by Kazuki Furuya, president of Seven-Eleven Japan Co. Ltd., a unit of Seven & i Holdings Co.

It’s unclear in what timeframe the expansion would occur.

Some details ...

Furuya’s announcement comes just days after reports sparked interest in when the company would lay out its growth plan, particularly for its U.S. unit. Ryuichi Isaka, head of Seven & i Holdings, had been expected to reveal the growth plans for the chain as part of a larger turnaround effort for the company.

Isaka has hinted at growing the U.S. chain and varying its foodservice offer.

In laying out his growth goal, Furuya said that improved product quality has led to more higher-income customers visiting the chain in the United States.

Along with unit expansion in the United States, the company hopes to grow its average daily sales per unit to $7,800 to $8,800, up from about $4,900 at present.

The comments came after Mitsubishi Corp. announced plans last week to raise its stake in Seven-Eleven Japan rival Lawson Inc. to a majority.

In 1991, the Japanese company then known as Ito-Yokado acquired The Southland Corp., Dallas, the U.S. operator of 7-Eleven stores. The global 7-Eleven business is now fully owned by Seven & i, with its approximately 60,000 convenience stores in 17 countries.

Irving, Texas-based 7-Eleven Inc. operates, franchises and licenses more than 10,700 convenience stores in the United States and Canada.