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Dive Brief:
7-Eleven is shuttering 444 convenience stores in North America, including in the U.S., due to underperformance, parent company Seven & i Holdings revealed in its quarterly earnings presentation on Thursday.

The world’s largest c-store retailer also agreed last month to offload an undisclosed number of properties in North America via sale-leaseback for a profit of $520 million, Seven & i also revealed Thursday. That deal is expected to close in February 2025.

Both moves coincide with Seven & i announcing Thursday that it slashed its net income forecast for the fiscal year 2024, as well as created a spinoff company for its supermarkets, specialty stores and other businesses (SST) amid investor pressure to prioritize its c-store arm.