7-Eleven
7-Eleven, Inc. is an American convenience store chain, headquartered in Irving, Texas. It is a wholly owned subsidiary of Seven-Eleven Japan, which in turn is owned by the retail holdings company Seven & I Holdings, a Japanese retail holding company.
The chain was founded in 1927 as the Southland Ice Company, operating an ice house storefront in Dallas. Then owned by Southland Corporation, the number of convenience stores expanded and were named Tote'm Stores between 1928 and 1946. Southland Corporation changed the stores' name to 7-Eleven in 1946, reflecting expanded hours of operation.
Southland Corporation started franchising its stores in 1961; in 1973, Ito-Yokado, a Japanese supermarket chain, signed a franchisee agreement with Southland Corporation to develop 7-Eleven convenience stores in Japan. Operating the Japanese stores under Seven-Eleven Japan, Ito-Yokado acquired a 70% stake in Southland Corporation in 1991; as majority owner, it changed Southland Corporation's name to 7-Eleven, Inc. that same year, then expanded to 100% ownership in November 2005, making 7-Eleven, Inc. a wholly owned subsidiary of Seven-Eleven Japan. In 2005, Ito-Yokado reorganized its collective businesses as a holding company, Seven & I Holdings, with 7-Eleven, Inc. wholly held by Seven-Eleven Japan.
7-Eleven operates, franchises and licenses roughly 85,000 stores in 20 countries and territories as of August 2024. Its stores operate under its namesake brand globally, including the United States, where it also operates as Speedway nationally but mostly in the Midwest and East Coast, and as Stripes Convenience Stores within the West South Central United States. Both Speedway and Stripes operate alongside 7-Eleven's namesake stores in several American markets. 7-Eleven also operates A-Plus locations with the name licensed from owner and fellow Dallas–Fort Worth metroplex-based Energy Transfer Partners, though most of these stores have since been rebranded as standard 7-Eleven stores.
Etymologies
The company's first outlets were in Dallas, named "Tote'm Stores" because customers "toted" away their purchases. Some stores featured "native" totem poles in front of the store. In 1946, the chain's name was changed from "Tote'm" to "7-11" to reflect the company's new, extended hours, 7:00 a.m. to 11:00 p.m., seven days per week. In July 1999, the corporate name of the US company was changed from "The Southland Corporation" to "7-Eleven Inc."Since 1968, 7-Eleven's logos have included a lowercase n. The first wife of John P. Thompson Sr., the company's president during the 1960s, thought the all-capitals version seemed a little aggressive. She suggested the change "to make the logo look more graceful".
History
In 1927, a Southland Ice Company employee named John Jefferson Green began selling ice. He subsequently began to sell eggs, milk, and bread from 16 ice house storefronts in Dallas, with permission from one of Southland's founding directors, Joe C. Thompson Sr. Although small grocery stores and general merchandisers were available, Thompson theorized that selling products such as bread and milk in convenience stores would reduce the need for customers to travel long distances for basic items. Thompson eventually bought the Southland Ice Company and turned it into the Southland Corporation, which oversaw several locations in the Dallas area.In 1928, a manager named Jenna Lira brought a totem pole from Alaska and placed it in front of her store. The pole served as a marketing tool for the company, as it attracted a great deal of attention. Soon, executives added totem poles in front of every store and eventually adopted an Alaska Native-inspired theme for their stores. Later on, the stores began operating under the name "Tote'm Stores". In the same year, the company began constructing filling stations in some of its Dallas locations as an experiment. Joe Thompson also provided a distinct characteristic to the company's stores, training the staff so that people would receive the same quality and service in every store. Southland also started to have a uniform for its ice station service boys.
In 1931, the Great Depression affected the company, sending it toward bankruptcy. Nevertheless, the company continued its operations through re-organization and receivership. A Dallas banker, W. W. Overton Jr., also helped to revive the company's finances by selling the company's bonds for seven cents on the dollar. This brought the company's ownership under the control of a board of directors.
In 1946, in an effort to continue the company's post-war recovery, the name of the franchise was changed to 7-Eleven to reflect the stores' new hours of operation, which were unprecedented at the time. In 1963, 7-Eleven experimented with a 24-hour schedule in Austin, Texas, after an Austin store stayed open all night to satisfy customer demand. Later on, 24-hour stores were established in Fort Worth and Dallas, Texas, as well as Las Vegas, Nevada. In 1971, Southland acquired convenience stores of the former Pak-A-Sak chain owned by Graham Allen Penniman Sr., of Shreveport, Louisiana.
With the purchase in 1963 of 126 Speedee Mart franchised convenience stores in California, the company entered the franchise business. The company signed its first area licensing agreement in 1968 with Garb-Ko, Inc. of Saginaw, Michigan, which became the first U.S. domestic area 7-Eleven licensee.
In the late 1980s, Southland Corporation was threatened by a rumored corporate takeover, prompting the Thompson family to take steps to convert the company into a private model by buying out public shareholders in a tender offer. In December 1987, John Philp Thompson Sr., the chairman and CEO of 7-Eleven, completed a $5.2 billion management buyout of the company. The buyout suffered from the effects of the 1987 stock market crash and after failing initially to raise high yield debt financing, the company was required to offer a portion of stock as an inducement to invest in the company's bonds.
Various assets, such as the Chief Auto Parts chain, the ice division, and hundreds of store locations, were sold between 1987 and 1990 to relieve debt incurred during the buyout. This downsizing also resulted in numerous metropolitan areas losing 7-Eleven stores to rival convenience store operators. In October 1990, the heavily indebted Southland Corp. filed a pre-packaged Chapter 11 bankruptcy in order to transfer control of 70% of the company to Japanese affiliate Ito-Yokado.
Southland exited bankruptcy in March 1991, after a cash infusion of $430 million from Ito-Yokado and Seven-Eleven Japan. These two Japanese entities now controlled 70% of the company, with the founding Thompson family retaining 5 percent. In 1999, Southland Corp. changed its name to 7-Eleven, Inc., citing the divestment of operations other than 7-Eleven. In 2005, Seven-Eleven Japan made a tender offer and 7-Eleven, Inc. became its wholly owned subsidiary. In 2007, Seven & i Holdings announced that it would be expanding its U.S. operations, with an additional 1,000 7-Eleven stores in the U.S.
For the 2010 rankings, 7-Eleven climbed to the No. 3 spot in Entrepreneur magazine's 31st Annual Franchise 500, "the first and most comprehensive ranking in the world". This was the 17th year 7-Eleven was named in the top 10.
In February 2010, 7-Eleven opened a concept store in DeLand, Florida across from Stetson University, designed to meet LEED environmental standards.
In 2020, 7-Eleven announced it would purchase Speedway for $21 billion.
In 2021, 7-Eleven rolled out a $70 million ad campaign, their largest investment in advertising in years, doubling their market spending from the previous year. The commercials, directed by Harmony Korine, were to reflect the "evolution" of the chain's store format, drawing attention to, in part, the fact that "this isn't just gas station food, there's real restaurant quality food at 7-Eleven", according to CMO Marissa Jarrantt.
On August 19, 2024, it was reported that Alimentation Couche-Tard—owner of competitor Circle K—had made a buyout offer for Seven & i Holdings. Later, on September 6, 2024, Seven & i Holdings rejected this offer as too low and rife with regulatory risk, although a "sweetened offer" might be considered.
On March 6, 2025, 7-Eleven's parent company Seven & I Holdings announced that it would spin off the US store operations into its own publicly traded entity by the end of 2026, following the announcement of the appointment of its first foreign CEO Stephen Hayes Dacus.
Products and services
7-Eleven in the United States sells Slurpee drinks, a partially frozen soft drink introduced in 1965, and Big Gulp beverages, introduced in 1976. Other products include: 7-Select private-brand products, coffee, fresh-made daily sandwiches, fresh fruit, salads, bakery items, hot and prepared foods, gasoline, dairy products, carbonated beverages and energy drinks, juices, donuts, financial services, and product delivery services.7-Eleven is known for its relatively large drink sizes and 24-hour accessibility. 7-Eleven offers beverages in sizes as large as . These beverage sizes were all among the largest sold soft drinks when they were introduced. 7-Eleven has often been associated with these large sodas in popular culture. For example, Mayor Michael Bloomberg's proposed ban on large sodas in New York City was frequently referred to as the 'Big Gulp ban'.
In 2012, 7-Eleven changed the size of the Double Gulp from 64 ounces to 50 ounces. The older style cups were too wide at the base to fit into vehicle beverage holders. This size change was not a reaction to the aforementioned large soda ban proposal, according to a spokesperson. In February 2020, they opened a cashier-less location at the 7-Eleven headquarters in Irving, Texas.