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Podcast: News For Reasonable People
Episode: #2,555 - BIDENOMICS: 7-Eleven to Close Nearly 450 Stores Nationwide
Description: The convenience store 7-Eleven will close over 400 stores nationwide, the company has announced.
According to CNN, Seven & I Holdings, the chain’s Japan-based parent company, announced the closures in their earnings report on Thursday.
Under the proposed measures, 444 locations of 7-Eleven will be shut down due to a fall in sales, high inflation, and a decrease in cigarette purchases.
“The North American economy remained robust overall thanks to the consumption of high-income earners, despite a persistently inflationary, elevated interest rate and deteriorating employment environment,” Seven...