About Company
7-Eleven, Incorporated, conventionally known as 7ᴇʟᴇᴠᴇn, is a US-based multinational convenience stores chain. The head office of the company is situated in Dallas, Texas.
In 1927, 7-Eleven was set up by Joe C. Thompson in the form of an ice house (a house for storing ice) storefront in the city of Dallas.
From 1928 to 1946, 7-Eleven was known as Tote’m Stores. Once Ito-Yokado, a Japanese associate company took over seventy percent of the stake of the company in 1991, restructuring of 7-Eleven took place and in 2005, it became a wholly-owned subsidiary company of 7-Eleven Japan Company Ltd. Presently, Seven & I Holdings Co., Ltd. located at Chiyoda, Tokyo is the proprietor of the company.
As of 2020 July, 7-Eleven runs, performs dealerships, and authorizes 71,100 outlets in seventeen nations.
7-Eleven Products and Services
The products of 7-Eleven include the following:
- Big Gulp beverage cup
- Slurpee beverage
Other items include the following:
- Toffee
- Coffee
- Fuel
- Readymade foods
- Refreshments
- Dairy products
- Different variety of drinks
in the US, 7-Eleven merchandises Slurpee beverages, a moderately-iced beverage launched in 1965. This is the reason why the outlets in Oklahoma are called Icy Drink. It also sells Big Gulp beverages that were launched in 1976.
Other items include the following:
- 7-Select private-brand items
- Freshly made daily sandwiches
- Coffee
- Salads
- Fresh fruit
- Hot and readymade foods
- Bakery items
- Dairy items
- Fuel
- Squashes
- Energy drinks and carbonated beverages
- Doughnuts
- Product delivery services
- Financial services
7-Eleven is famous for its comparatively big drink proportions and round-the-clock availability. The company provides drinks in proportions as big as 3,785 mL (128 oz). So, the name Team Gulp is quite apt. These drink proportions were all amongst the biggest marketed beverages once they were launched. 7-Eleven Incorporated has frequently been related to these big sodas in popular taste. For instance, the suggested embargo on big sodas/thirst-quenchers by Mayor Michael Bloomberg in New York City was often denoted as the ‘Big Gulp ban‘.
The company reduced the proportion of the Double Gulp to 50 oz from 64 oz or 1478 mL. In 2012, the old-fashioned cups were extremely broad at the lower portion. Besides, they were not suitable for soft drink receptacles in vehicles. As stated by a representative, it was not a response to the big soda embargo recommendation. In 2020 February, 7-Eleven unfolded a teller-less site at the company central office in Irving, TX.
Etymology of 7-Eleven’s name
The oldest stores of 7-Eleven were located in Dallas, and they were known as “Tote’m Stores” since customers “toted” away or carried their buys. Certain outlets displayed authentic “indigenous” pillars carved and painted with totemic figures facing the shops.
7-Eleven Global Presence
7-Eleven has its presence in the following countries across the world:
Asia
- Japan
- Hong Kong
- Indonesia
- Macau
- Laos
- Malaysia
- Mainland China
- Singapore
- Philippines
- Taiwan
- South Korea
- Thailand
- Vietnam
- United Arab Emirates
Europe
- Denmark
- Sweden
- Norway
- United Kingdom (earlier)
North America
- Canada
- The United States
- Mexico
Oceania
- Australia
South America
- Brazil (erstwhile)
Fuel
Several 7-Eleven sites in the United States used to have service stations with fuel supplied by Citgo. This was subsequently taken over by Southland Corporation in 1983. Half of the stocks of Citgo were traded to Petróleos de Venezuela, S.A. in 1986, and the rest was taken over four years later (1990). Despite Citgo being the predominant collaborator of 7-Eleven, other oil firms used co-branding with the company as well and they include the following:
- Exxon
- Fina
- Marathon
- Gulf
- Shell
- BP
- Chevron (co-branding of certain erstwhile TETCO convenience outlets was performed with Chevron, as well as Texaco before the company’s acquisition in the latter part of 2012)
- Pennzoil
Conoco ranks as the most prominent 7-Eleven retail merchant in North US.
In 2010 December, 7-Eleven inked a deal with ExxonMobil for the takeover of one hundred and eighty-three locations in Florida. Subsequently, in 2011 August, there was a takeover of fifty-one ExxonMobil locations in Northern Texas.
Seven & I Holdings proclaimed to acquire Speedway LLC at a valuation of US $21 billion on 2nd August 2020. The contract closed on 14th May this year. U.S. antitrust regulatory bodies instructed 7-Eleven to sell two hundred and ninety-three outlets throughout twenty states. One hundred and six outlets were divested to CrossAmerica Partners LP, one hundred and twenty-four outlets were divested to Anabi Oil, and sixty-three outlets were divested to Jacksons Food Stores.
Viewpoint of 7-Eleven
Continuous innovation and customer passion are the two triggers that propel 7-Eleven’s business. From their modest start as the oldest convenience outlet in the world, the company moves forward with its quest for ground-breaking means to serve a fresh, tech-savvy shopper’s community. Since technology specifies how buyers shop, 7-Eleven guarantees that it stays two strides forward.
At 7–Eleven, all the people are customer-oriented. There is constant opinion poll from the customers to make sure they are provided with the best possible solutions that are beyond their imagination. Starting from providing customer-friendly and suitable technology that helps our clients win complimentary products to getting a chilled SLURPEE® beverage sent to their door right away, 7-Eleven ranks as the stalwart in suitability and we always place our customers at the focus of strategy and growth.
7-Eleven Management
Joseph DePinto
Joseph DePinto is the CEO and President of 7–Eleven, Incorporated and he heads the reputed firm in convenience deals. The company has over 71,100 outlets worldwide, and 11,900 outlets among them are located in North US.
Earlier, before becoming the Chief Executive Officer of 7–Eleven, Incorporated in 2005, DePinto served as the President of GameStop Corporation. Joe has occupied managerial berths at Thornton Oil Corporation and PepsiCo, Incorporated.
Presently, DePinto serves as the Chairman of the BoD of Brinker International (New York Stock Exchange: EAT) and as a BoD Director of 7–Eleven, Incorporated, Seven & I Holdings Co., Ltd. (TYO: 3382).
Born in Chicago, IL, DePinto has a bachelor’s degree from the United States Military Academy, West Point in engineering management. He also has an MBA degree from the Kellogg School of Management, Northwestern University.
Stanley Reynolds
Stanley Reynolds is the Executive Vice President (EVP) and Chief Financial Officer (CFO) for 7–Eleven, Incorporated. Reynolds has the responsibility of policymaking, finance, mergers and acquisitions, shop expansion, tactical procurement, IT operations, and fuel assignments of the firm. Besides, Stanley forms a part of the Executive Committee of 7–Eleven.
In 1997, Stanley Reynolds started working for 7-Eleven as Manager of Corporate Finance. Subsequently, in 2000, he was nominated Assistant Treasurer. In 2001, Reynolds got elevated to Vice President and Treasurer. In 2005, he was entrusted with additional responsibility for strategic planning. By the end of 2005, he was appointed as the Chief Financial Officer (CFO) of the company.
Before joining the company, Reynolds served as the Vice President of Corporate Banking with NationsBank. Earlier, Stan was employed as a Staff Accountant with Ernst & Whinney.
Reynolds is a CPA (Certified Public Accountant) and keeps professional associations with the Association for Finance Professionals and Finance Executives International. He has an MBA degree from Vanderbilt University in Finance and a bachelor’s degree with honors and the highest academic distinction from Henderson State University.
Marissa Jarratt
Marissa Henderson Jarratt is the Chief Marketing Officer (CMO) and Senior Vice President for 7–Eleven, Incorporated. Jarratt heads the planning and implementation for making her organization the most desired accessibility key for the contemporary tech-savvy consumer via publicity, brand policy, Customer Relationship Management and private channels, media, in-shop experience, initiation and collaborations, customer perceptions, customer service, and business communications. Jarratt is an affiliate of the Executive Committee of 7–Eleven, Incorporated.
In 2019, before becoming a part of 7–Eleven, Jarratt occupied various senior management berths at Dean Foods Company and PepsiCo. These were the areas where Marissa gained profound beverage and food manufacturing familiarity, brand promotion, and all-purpose management skills.
Marissa Jarratt has earned many marketing business accolades and she is a member of the Advisory Council for the Masters of Marketing Program at Austin McCombs School of Business, University of Texas. She has a BBA degree in Finance, an MBA degree in Marketing, as well as a bachelor’s degree in Spanish from The University of Texas at Austin. Marissa is a resident of Plano, Texas with her son and spouse.
Chris Tanco
Chris Tanco is the Chief Operating Officer (COO) and Executive Vice President of 7–Eleven, Incorporated. He heads all facets of business activities related to the 7-Eleven outlets. The following business divisions report to him:
- Franchise and Corporate Activities
- Licensing
- Operations Services
- Amenities
- Engineering
- Construction
- Upkeep
- The Canada business division
- Merger Integration
Chris constitutes a part of the Executive Committee of 7–Eleven, Inc.
Earlier, Chris Tanco served as the Executive Vice-President of the company and headed the overseas corporate operations that incorporated 7-Eleven’s worldwide assortment comprising over 40,000 authorized, firm-possessed, certified, and joint-venture/partnership outlets running in eighteen nations.
Previously, Tanco served as the Chief Franchise Officer with Pizza Hut. He is enriched with the experience of seventeen years with Yum Brands, where he worked in different domains, general management, overseas, and dealership key positions.
Before joining Yum, Tanco was an accomplished industrialist in the Philippines. Chris earlier was part of the following BoDs:
- Max’s Group Inc.
- 7–Eleven Mexico
- Catholic Charities of Dallas
In the Philippines, Max’s Group Inc. is the biggest registered casual and fast-casual restaurant chain. Tano presently is working as a member of the following boards of directors:
- 7–Eleven, Inc.
- Planet Fitness
- Urban Air Adventure Parks
Tanco has a bachelor’s degree from the Ateneo de Manila University and an MBA degree from Darden Business School, the University of Virginia. Chris knows four languages. He has been working in and a resident of various continents.
Seven & I Holdings Financial Statement for Q1 2022 (Figures are in Billion Yen and % unless otherwise stated) (add the attached image)
7-Eleven Incorporated Stock Performance (for the table add the attached image-Stock Performance)
The stocks of Seven & I Holdings Company, Ltd. are traded on the OTC US exchange with the ticker symbol SVNDY. On August 20, 2021 SVNDY closed trading with OTC US at $22.50 at 3:56 pm EDT (Eastern Daylight Time).
Disclaimer:
This writeup is exclusively for educational benefits and one should not make use of it as investment guidance. It always makes sense to discuss with your investment advisor before concluding any investment.
