Seven & i Completes Dept Store Divestiture; Dedicating Resources To Fortify C-Store Strength

The domestic convenience store operations under the 7-Eleven banner have been a key driver of Seven & i Holdings' growth. After accelerating its domestic store expansion and adding more than 7,600 stores between 2011 and 2018, management has shifted its focus from quantity back to quality of store operations and profitability. Management intends to fix the widened variance in store performance resulting from massive new store openings and lift the targeted return on investment from the current 11% to 15%. It has lowered its new store opening target to less than half of 2018's level to 600-plus stores while accelerating closures of the underperforming stores.