Seven & I Holdings Co., the operator of 7-Eleven convenience stores, plans more acquisitions in the U.S. and may more than double its North America outlets as consumer spending improves there.
The company "could increase our store number (in North America) to 20,000 or even 30,000," Chairman Toshifumi Suzuki said in a recent interview at the company's Tokyo headquarters. It currently has more than 8,000 outlets in the region and Suzuki didn't provide a time frame for the planned expansion.
Seven & I, the world's biggest convenience store operator by number of outlets, has been buying small chain stores in the U.S. as it tries to strengthen the competitiveness of the local unit. Strength in consumer spending and business investment is helping the U.S. economy overcome government cutbacks, underlining forecasts for a growth pickup later in the year.