(Source: Reuters/Kim Kyung-Hoon)
Japan’s Seven & i Holdings Co said on Thursday it will close an additional 14 Ito-Yokado supermarket stores in Japan and fully exit from the apparel business as part of its structural reform plan.
The total number of Ito-Yokado stores will be cut to 93 by the end of February 2026, down from 126 stores at the end of February this year. The latest closure announcement comes after Seven & i unveiled restructuring plans in 2019.
Seven & i, operator of 7-Eleven convenience stores, has been under increasing pressure from activist fund ValueAct Capital to make structural reforms and sell off assets.
- Reporting by Mariko Katsumura; Editing by Tom Hogue, of Reuters.
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