Industry News

From 2025 through 2027, 7-Eleven plans to build 500 new convenience stores, the company said in an investor presentation posted Thursday by parent company Seven & i Holdings Co. Ltd. 7-Eleven will do this by rolling out its “New Standard” stores, which were developed from what the company learned with its “Evolution” stores, which offer in-store restaurants and premium products like cigars, craft beers and wine cellars. The first Evolution store opened in Dallas in 2019. “We plan to open 125 of these new stores in 2025, and we are ramping up and growing our pipeline with plans to open over 500 of these new stores by 2027,” Joe DePinto, 7-Eleven CEO, said on the call. The presentation indicated that Irving, Texas-based 7-Eleven will have 115 New Standard stores open by the end of fiscal 2024. It expects to build the aforementioned 125 next year, 175 in 2026 and 200 in 2027, for a…

Have you ever walked past an empty shell of a shop — claiming to be a tobacconist — and wondered how it’s making any money? There are said to be thousands of them across the country, from tiny towns to big cities, and many appear to close almost as quickly as they open. These shops are the most visible sign of a flourishing black market, controlled by organised criminals who are illegally importing cigarettes in vast quantities and selling them tax-free to smokers. In New South Wales, the government is well aware of this growing illicit trade — particularly in rural and regional communities — but it has no idea how many retailers are in on it. Part of the reason is the lack of red tape. Anyone who wants to open a cigarette shop in the state just needs an ABN and must then notify NSW Health to obtain…

The government’s plan to outlaw surcharges on debit card transactions threatens to squeeze small businesses unless it acts to limit fees payment giants and banks levy on outlets. Rob Anderson, the director of the Geelong-based and family-owned service station chain APCO, said payment processing costs jumped “exponentially” over the past few years, with around 80 per cent of his customers now using some form of card and digital payment. While APCO has not implemented a surcharge in its stores, Mr Anderson has considered it to offset the cost of processing payments. Now, he fears the Albanese government’s plan to ban debit surcharges from 2026, pending a Reserve Bank review, will put outlets like his at a disadvantage. “I don’t think it is reasonable to ban surcharges when the retailer is actually getting charged for accepting payment,” he said. “We are even getting charged on eftpos payments, and they will be…

Vapers are being forced to buy their e-cigarettes on the black market, with only a tiny percentage of pharmacies stocking the legal products. Just 1 per cent of Australian pharmacists are stocking government-approved vapes for walk-in customers, in a concerning sign that people are still relying on the black market for e-cigarettes — despite the Albanese government moving to regulate the industry. A nationwide survey of 305 pharmacies has found that just four were stocking the legislated S3 vapes, while another six had them available for order upon request. The survey, commissioned by smoking cessation expert Dr Colin Mendelsohn, spoke to pharmacies across both regional areas and capital cities in the first two weeks of October, after the new regulations were brought in on October 1. Capital cities fared better for access to legal e-cigarettes — most of the very few pharmacies stocking the product were in capital cities. The Albanese…

NEW YORK (AP) — Americans who think of petrified hot dogs, frozen burritos and salty snacks when they imagine getting food at a gas station or truck stop may be pleasantly surprised during their next road trip: U.S. convenience stores are offering them more and better — though not necessarily healthier — choices. From 7-Eleven to regional chains like QuikTrip, the operators of c-stores, as they’re known in the trade, are looking overseas for grab-and-go inspiration, adding sit-down seating at some locations, expanding their coffee menus to rival Starbucks and experimenting with made-to-order meals for busy families. The moves are happening as convenience stores seek ways to offset slowing sales of cigarettes, maps and soft drinks. By tempting customers’ palates with fresh deli sandwiches and build-your-own burgers, the humble food marts want to become an alternative to fast-food restaurants for busy Americans who crave easy, interesting and less expensive eating options. “It…

Despite strong price discounting, demand for electric vehicles has slowed with Tesla sales down 49 per cent in September and 19 per cent year to date. In contrast, sales for hybrid vehicles are booming, up 96 per cent year to date and outselling EVs two to one. If the slump continues we may see the EV market fail to grow for the first time since 2016. But why have EVs fallen out of favour with new car buyers? Financially, EVs have never been more attractive. Back when Teslas cost more than $100,000 the biggest problem was the large depreciation hit. But with strong competition in the sector, EVs are now within the reach of most buyers and prices are getting closer to equivalent internal combustion engine models meaning other factors must be at play. Over the past five years the EV market has been supported by various state government incentive schemes to encourage…