7-Eleven plans to close more than 600 stores in 2026, a sharp turn for the largest convenience-store chain in North America as it moves to reshape its business around lower foot traffic and stronger control of costs. The company had forecast adding 205 locations this year, but it is now pulling back from that expansion and turning some stores into wholesale fuel sites that are not counted in its store total.
The changes land as Seven & i, 7-Eleven’s parent company, expects to lose about $59.5 billion in the current fiscal year. Stephen Hayes Dacus became chief executive last spring and has pushed a tighter operating plan. “In that environment, you need to look harder at your supply chain, you need to make sure you squeeze your costs really tightly, so you have really good control of it,” Dacus said. The company is also expanding its 7NOW delivery options and leaning harder into fresh foods as it adapts to changing shopping habits.
The shift reflects a broader reset in convenience retailing. Richard Garcia said the old U.S. model depended on fuel pulling people in, but that is changing fast as the store itself becomes the destination and fuel becomes the add-on. That matters because 7-Eleven operates more than 13,000 convenience stores in North America, while the next closest chain has 7,000, giving its decisions outsized weight across the sector. It also comes as gas prices remain high enough to shape where drivers stop: AAA put the national average at $4.118, while California reached $5.844, the most of any state.
The tension in 7-Eleven’s plan is that the company is shrinking part of its footprint even as it says it is building the next version of the chain. Closing stores and converting some locations to wholesale fuel sites may cut costs, but the bet now is that delivery, fresh food and a more purposeful in-store experience will matter more than simply having the nearest pump. For anyone searching a convenience store near me, that is the business model being rewritten in real time.