4,000th 7-Eleven store eyed by Q4

MANILA, Philippines — Philippine Seven Corp. (PSC), the exclusive licensor of convenience store chain 7-Eleven in the country, is inching closer to achieving its 4,000th-store milestone as it continues with its aggressive expansion.

PSC expects to hit the 4,000 store mark by the fourth quarter as it allots a capital expenditure budget of up to P4.5 billion this year.

The company will use the amount to open 450 new stores as well as remodel older branches.

During the first half, PSC managed to open 170 new outlets to bolster its 3,768 store network nationwide as of end-2023.

“So the second half we open more stores. This year, we’re opening even more as a percentage. Next year, more still because the new store sales are still very high. So when new store sales are high that means you’re not opening fast enough,” PSC president and CEO Jose Victor Paterno said.

He said the company will also be ramping up its expansion in Visayas and Mindanao where it has a total of 962 stores.

“So yes, we’d be going faster. We are bullish on the growth in the regions,” he said.

PSC’s expansion efforts have been complemented by strategic partnerships, such as the collaboration with Seven Bank of Japan.

As one of the leading ATM operators worldwide, Seven Bank of Japan deployed cash-recycling ATMs in several 7-Eleven stores nationwide.

PSC said these ATMs, which provide innovative cash management solutions tailored specifically for 7-Eleven stores, have contributed to increased foot traffic and expanded financial services to underserved communities.

As of end-2023, there were 3,028 ATMs in Metro Manila, Luzon, Cebu and Davao, covering 80 percent of the company’s store network.

7-Eleven stores have also added essential products and enhanced food service offerings to respond to the needs of its customers.

PSC is also accelerating its digital strategy in the areas of e-commerce and payments through its CLiQQ mobile app.

“As PSC looks ahead, the company remains focused on enhancing customer experience through innovation, convenience and safety. With a strong foundation in place and a proven ability to adapt to changing market conditions, Philippine Seven Corp. is poised for continued success in the years to come,” Paterno said.