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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