7-Eleven to close more than 400 stores [Video]

The parent company of Irving-based 7-Eleven revealed this week plans to close more than 400 locations in North America.

Japan-based Seven & i Holdings, the parent company of the convenience store chain, said in an Oct. 10 earnings report that the 444 store closures are due to underperformance caused by a variety of factors, including declining sales and traffic, inflation concerns and reduced cigarette sales.

There are more than 13,000 7-Eleven stores across the United States, Canada and Mexico. Seven & i Holdings has around 85,000 stores total, mostly in the U.S. and Asia.

“Aligned with our long-term growth strategy, we continuously review and optimize our portfolio to deliver convenience where, when and how customers need it,” 7-Eleven said in a statement. “As part of this, we made the decision to optimize a number of non-core …