By Inside Retail Asia
Japanese retail giant Seven & I Holdings said on Tuesday it wanted to see huge growth for its 7-Eleven convenience store chain globally, and would be accelerating its entry into Europe, Latin America, the Middle East and Africa.
It is aiming to boost the global number of 7-Eleven stores 18 per cent to about 100,000 by 2030 and for the chain to be in 30 countries and regions, up from 20 now.
The plan is part of a large-scale restructuring that involves selling off lower-performing supermarket assets – a strategy pursued after pressure from activist investors.
Since last year, the company has announced the closure of dozens of Ito-Yokado supermarkets, exited its apparel business, and completed the sale of its Sogo & Seibu department store unit. It also agreed to spend more than $2 billion to scoop up convenience stores in Australia and the United States.
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