The Japanese parent company of 7-Eleven is betting billions of dollars that it can expand its business in the United States by making its convenience stores more like the food meccas they are in Japan.
Convenience stores, or konbini, are an indispensable part of daily life in Japan, known for high-quality fresh food — from seasonal bento boxes to egg salad sandwiches that the celebrity chef Anthony Bourdain once called “pillows of love.”
Leading the push to expand Japanese-quality fresh food to 7-Eleven in North America is Stephen Dacus, a Japanese American former Walmart executive who started as chief executive of Seven & i Holdings, the 7-Eleven parent company, three months ago.
Seven & i is under intense pressure. Over the past year, it has fended off a takeover attempt by a Canadian rival. When Alimentation Couche-Tard, the owner of Circle K convenience stores, withdrew its $47 billion bid in July, Seven & i’s stock price collapsed. Mr. Dacus and his team were left to prove they can deliver growth and returns on their own.
Now, facing a stagnant and highly competitive retail market in Japan, Seven & i’s growth is expected to come from overseas. The strategy could hinge, industry experts say, on Mr. Dacus’s ability to successfully introduce Japanese-level quality foods in the more than 13,000 stores that 7-Eleven operates, franchises and licenses in North America.
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