Seven & I Holdings said it will open 1,300 new international stores, mainly in the United States, in an update to its midterm plan after Circle-K operator Alimentation Couche-Tard dropped its ¥6.77 trillion ($44.9 billion) takeover proposal.
The company said it will also add 1,000 net new outlets in Japan as part of its growth strategy. The goal is to "satisfy changing customer needs with new formats and accelerate openings,” the operator of 7-Eleven stores said in a presentation Wednesday.
Seven & I’s push to expand internationally comes as the company faces heightened pressure from investors who are increasingly skeptical about its turnaround strategy. The Japanese retailer’s share price, down nearly 20% this year, reflects broader doubts about its ability to streamline operations.
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