Skip to content
Subscriber Only

Seven & i Jumps Most Since 2017 on Plan to Cut Jobs, Shut Stores

  • Labor shortage has forced retailer to rethink operations
  • Job cuts aimed at reducing costs at department stores
Convenience Stores Ahead of Sales Figures Report
Photographer: James Whitlow Delano/Bloomberg
Updated on

Seven & i Holdings Co.’s stock rose the most in more than two years after the Japanese retailer said it will close 1,000 unprofitable 7-Elevens and eliminate 3,000 jobs from its other units as it continues a structural reform.

The convenience chain said it will implement new policies for its franchisees, such as reducing monthly fees. Additionally, it will close five Seibu and Sogo department stores, and is considering shuttering 33 Ito-Yokado general-merchandise shops.