7-Eleven’s parent company Seven & I Holdings plans to close or convert 645 locations across North America this fiscal year.

The company said the figure includes stores in the US, Canada and Mexico, but noted that not all sites will shut completely. Some locations will be converted into wholesale fuel outlets, continuing to operate as petrol stations without a convenience retail offering.

Seven & I said the changes represent about a 5 per cent reduction of its North American network, which currently spans more than 12,000 stores.

However, the move contrasts with the retailer’s previously announced expansion plans. Last year, 7-Eleven said it would scale a new “restaurant format” in the US, with a target of opening 1300 locations by 2030.

“Although the economy remained robust, personal consumption also began to soften,” Seven & I said in its latest report, highlighting that the impact was felt “particularly among low-income households, as inflation continued to weigh on spending”.

Beyond North America, the group also plans to close additional stores globally, including 18 in Australia, 65 in China, and 350 in Japan.

The company did not specify which locations would be affected. Globally, 7-Eleven operates more than 85,000 stores across 19 countries.