Core Insights - 7-Eleven is undergoing a significant transformation due to its underwhelming performance in the U.S. market, which constitutes nearly 70% of parent company Seven & i's total revenue [1] - The company's net income in North America dropped approximately 17% in fiscal year 2024, leading to the closure of 444 underperforming stores [2] - A new leadership under CEO Stephen Dacus has been established to address complacency and redefine the company's strategy [3] Business Strategy - A major focus of the transformation is revamping the food business in North America, including healthier ready-to-eat meal options and introducing popular items from Japanese locations [4] - The company plans to add more proprietary restaurants to existing locations, such as Laredo Taco Company and Raise the Roost, with a goal of opening 1,300 food-focused "new large format stores" by 2030 [5] - Revamped locations have shown a 45% increase in sales per store, indicating potential for higher traffic through restaurant offerings, despite additional costs [5] Future Outlook - Seven & i is preparing for a potential IPO of the 7-Eleven North America business in 2026 while planning to remain a majority shareholder [6] - The company is also dealing with the aftermath of a failed $47 billion takeover attempt by rival Alimentation Couche-Tard [6]