3 Big Numbers is a weekly column that looks at a few key details from around the c-store industry.
If you follow news about 7-Eleven’s parent company Seven & i Holdings, then you had a busy Thursday. Through a series of announcements and presentations, we learned the full scope of plans for a CEO shift, several restructuring moves and a buyback program in pursuit of that holiest of grails, “value for shareholders.”
While anonymous reports earlier in the week had prepared us for some of the news, other developments from the company were a bit more of a surprise.
In today’s “3 Big Numbers,” we examine how the slate of announcements from Seven & i will affect 7-Eleven here in the U.S.
23
The number of months between Seven & i forming its Strategic Committee to assess IPOs and deciding to IPO in the U.S.
Seven & i’s plan to commence an IPO for 7-Eleven Inc. — its North American c-store arm — on Thursday wasn't leaked ahead of time, but the idea was already out there. In December, a potential IPO of those assets was floated as part of a Japanese group’s buyout offer for the company. That group ultimately couldn’t pull together the needed funds and dropped out of the running.
About 23 months ago, Seven & i formed a Strategic Committee to evaluate the state of the company. That assessment included considering an IPO or spin-off. In 2026, barring any unforeseen roadblocks, 7-Eleven in North America will do just that.
$59.7 billion
7-Eleven’s fiscal 2024 North American revenue.
While 7-Eleven’s North American arm is just one part of Seven & i’s business, it’s a significant one. For fiscal year 2023, the division — which includes over 13,000 convenience stores — brought in almost $60 billion in revenue and $4.2 billion in EBITDA.
Although 7-Eleven has been struggling in North America as macroeconomic headwinds mount, an IPO would give it more autonomy. This could make it slightly easier for the massive company with over 9,000 stores in the U.S. alone to innovate its stores and respond to industry challenges.
3
The number of CEOs Seven & i will have had once Stephen Dacus takes over in May.
U.S. consumers think of 7-Eleven as a fairly old company — the first location opened almost a century ago at an ice house in Dallas. But while 7-Eleven the concept is venerable, Seven & i as a publicly traded company isn’t much past its teen years.
Founded in 2005, the holding company was born out of the union of three other entities: Seven-Eleven Japan, Ito-Yokado and Denny’s Japan. And when it came together, it named Toshifumi Suzuki as its chairman and CEO.
He held that role for a little over a decade before stepping down in 2016, making way for current CEO Ryuichi Isaka. Isaka will turn the reins over to Dacus at the May shareholder meeting.
The move also puts Seven & i in good company — nearly half of Japan’s top companies have named new CEOs since 2021.
