One of the largest convenience store chains in the United States has recently joined the list of retailers closing a significant number of stores this year. In fact, it currently holds the position of being the fifth-highest retailer in terms of store closures.
Famous retailers at both national and local levels have had a tumultuous year in 2024.
In recent weeks, a number of beloved local businesses have had to shut down for good. Among them are Retro Fitness in Yorkville, Freihofer’s bakery in Verona, SAL’s Seafoods in Syracuse, and Wells College in Aurora. It’s a difficult reality to face, as these establishments were not only places of commerce, but also pillars of the community.
New York State recently compelled a cherished establishment in Oneida to halt operations, causing distress among its patrons.
The situation for nationally-owned chains is even more dire. Just recently, Applebee’s and Red Lobster have confirmed that they are struggling and will need to close a significant number of their locations in order to stay afloat. Meanwhile, Stop & Shop, a major grocery chain, has announced that it will be closing multiple “underperforming” stores in order to maintain its operations.
In the entire world, there is only one Kmart store left, and it happens to be located in New York. Unfortunately, this year, a once-booming retailer with over 60 locations in New York has left the Northeast altogether.
Kmart stores are set to undergo a major revamp, with plans to sell Sears brands in their stores. This move comes as part of an effort to bring new life to the struggling Kmart brand. Customers will now be able to find popular Sears brands, such as Kenmore appliances and DieHard batteries, in Kmart stores. This merger is expected to help both brands by increasing foot traffic and expanding product offerings. Kmart is excited to offer their customers a wider variety of products and hopes that this partnership will lead to increased sales and revenue.
Throughout the year, CBS has been closely monitoring and documenting the closures of major chain stores.
According to confirmed reports, Family Dollar has topped the list with 620 stores that will be closing permanently. Rue21 landed in the second position with 543 closures, while 99 Cent Only Stores and CVS Health took the third and fourth places with 371 and 315 closures, respectively.
In a recent update to the list, 7-Eleven has now claimed the fifth spot, pushing Rite Aid down to sixth place. Despite its massive size, the chain has been facing financial struggles and was forced to close down 184 stores in 2023. To stay afloat, 7-Eleven has confirmed that it will be shuttering an additional 272 stores this year.
To celebrate its 75th anniversary, 7-11 has announced a series of events and promotions. The convenience store chain has been a staple in the United States since 1927 and has since expanded globally. The company is known for its Slurpee drinks and Big Bite hot dogs. To mark the occasion, 7-11 has introduced limited-edition cups and snacks, as well as discounted prices on some of its most popular items. Additionally, the company is hosting a virtual birthday party with celebrity appearances and giveaways. Customers can also participate in a rewards program that offers the chance to win free Slurpees for a year. Overall, 7-11 is celebrating its milestone with a variety of exciting events and promotions for its loyal customers.
After recently announcing a $1 billion deal with Sunoco, the conveniences giant has now revealed its plans to close some of its locations, possibly including “underperforming” stores, following the same strategy as Stop & Shop. This announcement comes on the heels of the addition of approximately 200 new stores to the company’s portfolio.
It’s important to acknowledge that 7-Eleven will be celebrating its 100th anniversary in 2027. Hence, it would be unfortunate if the company were to go out of business before reaching such a significant milestone.
It is currently unclear which stores 7-Eleven has identified for closure, and whether any of these include the New Hartford location on Kellogg Road in New York. ScrapeHero reports that the chain presently runs 595 outlets throughout the Empire State.
According to CBS, 7-Eleven’s recent closures can be attributed to the rise of competition from online giants like Amazon, as well as other e-commerce rivals. Moreover, the increasing cost of living, stagnant wages, and unyielding pace of inflation have also led to Americans cutting back on their spending habits.