7-Eleven to close nearly 450 locations

(Gray News) - A convenience store chain plans to close several hundred underperforming stores.

7-Eleven will be shutting down 444 locations due to a variety of issues.

CNN reports that the company announced the closures in a recent earnings report, citing slowing sales, declining traffic, inflationary pressures, and a decrease in cigarette purchases as the reasons.

7-Eleven has more than 13,000 U.S. locations and the closures would affect about 3% of its stores.

Seven & I Holdings, the chain’s Japan-based parent company, shared that the stores' sales have declined over the past several months, including a more than 7% drop in August.

A specific list of closing locations wasn’t immediately released.

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