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Seven Up

7-Eleven closing stores to keep profits rising

Published

22 years ago

January 31, 2002

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7-Eleven Inc. (Dallas), which reported an 18 percent rise in fourth-quarter profits on Thursday, also announced plans to close 120 underperforming stores around the country to help bolster its long-term financial outlook.

For remaining stores, the company plans to invest in technology to differentiate the chain from the competition. 7-Eleven president and ceo Clark Matthews, II, has cited the company's proprietary fresh-food business and its financial services business as two areas that give it a leg up over other convenience marts.

7-Eleven operates about 5800 stores in the U.S. and Canada, licensing 17,000 stores in the rest of the world.

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