7-Eleven CEO Joe DePinto is scheduled to present a $40,000 donation to the Big Brothers Big Sisters charity in celebration of the chain’s achievement.
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 plans to celebrate the milestone of reaching 40,000 stores 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 3.5 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% 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 7-Eleven 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. 7-Eleven boasts 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—in honor of reaching 40,000 stores—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. is no stranger to milestones. Below are some it has set in the past:
• 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.
• 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.
7-Eleven Inc.’s climb to 40,000 stores:
• 1927 – First store
• 1963 – 1,000 stores
• 1984 – 10,000 stores
• 2003 – 25,000 stores
• 2010 – 40,000 stores