NEWARK, N.J. (Profitable.com) Prudential Financial today announced that it is…
DALLAS (Profitable.com) From its humble beginnings in 1927 selling milk and bread from an ice dock in Oak Cliff, Texas, 7-Eleven, Inc. has grown into an international powerhouse with more retail outlets than any other company in the world — now numbering 40,000.
The company will celebrate this milestone with a reception Friday, Feb. 25, at its headquarters at One Arts Plaza in Dallas.
“Last year, 7-Eleven opened more than 2,500 7-Eleven® stores globally, or about one new store every 3-1/2 hours,” President and CEO Joe DePinto said. “The growth potential is tremendous, both domestically and internationally, as we operate in only 16 countries today. We are continuing to aggressively pursue expansion across the chain.”
DePinto added, “Around the world, 7-Eleven is a franchise business with approximately 75 percent of stores franchised by independent business operators running local neighborhood stores. These local stores can take advantage of scale and support under the 7-Eleven brand. As our store count rises, so, too, do the franchising opportunities for qualified businessmen and women around the world to be their own boss.”
Approximately 10 to 11 full- and part-time store associates are employed by each store in the U.S. and overseas, infusing dollars into the local economy. In total, more than 30,000 new jobs and business opportunities are created each year as a result. We have 500,000 store associates around the world and global sales of $62.7 billion. This contribution to local economies has been recognized through numerous awards and honors given to 7-Eleven for the positive impact on the communities served.
“This significant store growth is a job-stimulus package in itself,” DePinto said. “When 7-Eleven opens a store, we create new jobs and business prospects in the community. This ranges from franchising, management and store staff positions to more work for local suppliers, contractors and construction crews. We also add to the local tax revenues for neighborhood schools and city services.”
Not only do new 7-Eleven stores bring about new business and revenues to the cities in which they operate, the company’s charitable contributions and sponsorships programs also benefit local communities, both in the U.S. and abroad.
To demonstrate 7-Eleven’s commitment to supporting the community and being a good neighbor, DePinto will present a $40,000 donation to Big Brothers Big Sisters, a nationally known charity during the Feb. 25 event. The recipient, which provides youth mentoring, complements 7-Eleven’s charitable contribution strategy.
7-Eleven, Inc.’s history is rich with milestones. For example:
- 1949 – 7-Eleven was the first convenience retailer to air television commercials.
- 1964 – Coffee-to-go was introduced to U.S. consumers by a 7-Eleven store on Long Island, N.Y.
- 1966 – 7-Eleven introduces its iconic drink, the Slurpee® frozen carbonated beverage.
- 1984 – First convenience store to offer ATM service
- 1991 — 7-Eleven was the first convenience store to open third-party distribution, bakery and commissary facilities to deliver fresh foods every day of the year to its stores.
- 1998 – The first self-serve, multi-purpose financial kiosk was developed by 7-Eleven.
- 2004 — 7-Eleven was the first retailer to offer its own prepaid wireless phone program.
- 2007 –7-Eleven introduced nationally the first herbal-extract enhanced coffee sold in a cup, which was called Fusion Energy.
- 2010 – 7-Eleven partnered with Zynga, a social gaming company, in its first retail promotion with millions of consumers redeeming exclusive virtual items within wildly popular online games like Farmville, Yoville and Mafia Wars.
7-Eleven moved beyond the U.S. borders in 1969 when it began opening stores in Canada, and two years later created a joint venture in Mexico. The first overseas 7-Eleven store was built in Japan in 1974. Today 7-Eleven has thousands of global locations through master franchisee agreements with organizations in Thailand, Taiwan, South Korea, China, Malaysia, Singapore, the Philippines, Australia, Sweden, Norway, Denmark and Indonesia. Each of these independent companies contribute to 7-Eleven’s rapid store growth.
The following shows 7-Eleven, Inc.’s climb to 40,000 stores:
- 1927 – First store
- 1952 – 100 stores
- 1963 – 1,000 stores
- 1984 – 10,000 stores
- 2003 – 25,000 stores
- 2010 – 40,000 stores
About 7-Eleven, Inc.
7-Eleven, Inc. is the premier name and largest chain in the convenience retailing industry. Based in Dallas, Texas, 7-Eleven operates, franchises or licenses more than 8,300 7-Eleven® stores in North America. Globally, 7-Eleven operates, franchises or licenses more than 40,000 stores in 16 countries. During 2009, 7-Eleven stores worldwide generated total sales of more than $58.9 billion. 7-Eleven has been honored by a number of companies and organizations recently. Accolades include: #2 on Forbes magazine’s 2011 list of Top Franchises for the Money; #4 spot on Entrepreneur magazine’s Franchise 500 list for 2009, #3 in Forbes magazine’s Top 20 Franchises to Start, #3 among Top 100 Global Franchises by Franchise Direct, #3 in Store Growth by Convenience Store News, #2 in Franchise Times Top 200 Franchise Companies, #6 in AllBusiness AllStar Franchise ranking, #29 among Top 100 Chains in Food Service. In addition, Hispanic Magazine named 7-Eleven in its Hispanic Corporate Top 100 Companies that provide the most opportunities to Hispanics. 7-Eleven recently was selected by three diversity publications as a company offering the best career and franchisee opportunities. 7-Eleven is franchising its stores in the U.S., and is expanding through organic growth, acquisitions and its Business Conversion Program. In addition, the company received the 2009 Shopper-Centric Marketing Innovation from Symphony IRI and the 2010 Retailer of the Year award from PL Buyer because of the company’s private-label brand program. Find out more online at www.7-Eleven.com.