7-Eleven Posts Record Quarter as Fuel Margins and Turnaround Plan Deliver

7-Eleven’s parent company, Seven & i Holdings, posted a record first quarter of fiscal 2026, with overall operating income up 122.4% year over year to more than 105 billion yen (about $649 million). Over the same period, its North American unit, 7-Eleven Inc., achieved a 25% increase in operating income, climbing to $556 million from roughly $445 million a year earlier. Earnings per share for the parent company climbed 118.4%. CEO Stephen Dacus called the figures record highs for the company, crediting strong fuel margins tied to volatility in energy commodity markets along with early progress on the company’s North Star turnaround plan. In a statement, Dacus said the company is accelerating that plan by strengthening its merchandise offering, modernizing its store network, and improving the customer experience to support long-term growth.

The strong results prompted Seven & i to raise its full-year guidance, adding roughly $126 million to its operating income forecast and about $51 million to its net income projection. The company now expects about $65.9 billion in annual revenue and $1.76 billion in net profit for the fiscal year. In North America, 7-Eleven’s fuel sales grew $349 million year over year, aided by rising gas prices tied to conflicts involving Iran and Russia. Merchandise sales also improved, with same-store sales up 1.4% and total store sales up 1.2% — a notable rebound after fiscal 2025 saw same-store sales growth in only one quarter.

On the store-network side, 7-Eleven opened 30 new locations in Q1, part of a plan to add 205 stores in fiscal 2026, while closing 142 stores toward a full-year target of 645 closures. The company also opened restaurant concepts in 20 stores, launched 60 new private-brand items, and generated $274 million in sales through its 7Now delivery platform.

7-Eleven had previously disclosed the overall target of removing 645 sites from its network but hadn’t broken out how those closures would be categorized. That detail was clarified in the company’s Q1 presentation, along with additional context from a company spokesperson. The full-year plan breaks down as follows:

• 200 stores will be closed for underperformance
• 350 sites will be converted to wholesale
• 95 stores will close for non-performance-based reasons, including franchise terminations and other contractual situations

Separately, Seven & i confirmed that a possible IPO of its North American convenience store and gas station business remains delayed, with the earliest possible timing now fiscal year 2027.