Seven & I Holdings’ new CEO plans to boost investments in its U.S. stores using cash from a planned listing of its American retail operations.
"The initial public offering gives us the financial flexibility to invest a bit more aggressively in our stores,” Stephen Dacus, who was named to the leadership position last month, said in an interview on Friday.
The Japanese operator of 7-Eleven convenience stores is in the middle of a restructuring to boost growth and shareholder value after years of weak investor returns made it the target of activist shareholders, as well as Canada’s Alimentation Couche-Tard, which proposed to buy the company last year.
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