7-Eleven Ranks Among Top 25 Hottest Retailers
IRVING, Texas — 7-Eleven Inc. is already a dominant force in the convenience store industry, but it's not done growing. The National Retail Federation (NRF) listed the chain on its 2023 Hot 25 Retailers list, which ranks the fastest-growing U.S. retailers.
The annual list highlights the most impactful and fastest-growing retail companies in the United States. Data, insights and consulting company Kantar compiles the rankings, which are determined by year-over-year percentage increases in domestic sales.
7-Eleven ranked No. 5 on this year's list with 30.2 percent growth in U.S. retail sales from 2021 to 2022, or $6.99 billion in added sales. The c-store giant totaled $30.15 billion in U.S. retail sales in 2022, up from $23.16 billion the previous year.
This year's ranking marked a significant jump for 7-Eleven, which held the No. 23 slot on last year's list with 31.6 percent growth in domestic sales.
[Read more: 7-Eleven Upgrades Digital Connection to Its Customers]
Overall growth was lower for this year's list. On the 2022 Hot 25 Retailers list, nearly all ranked companies saw sales growth above 25 percent. Only 7-Eleven and five other companies on the 2023 list saw growth above 25 percent.
Trends evident on this year's list include food sales and growth through mergers and acquisitions (M&A). Strong M&A activity in the grocery channel may herald similar activity to come in other retail channels, according to David Marcotte, senior vice president at Kantar.
"It's clear that companies that are making moves are igniting some of their growth," Marcotte said. He noted that he anticipates more M&A in 2023.
The full list is available here.
Irving-based 7-Eleven operates, franchises and/or licenses more than 13,000 stores in the United States and Canada. In addition to 7-Eleven stores, it operates and franchises Speedway, Stripes, Laredo Taco Co., and Raise the Roost Chicken and Biscuits locations.
7-Eleven is No. 1 on the 2023 Convenience Store News Top 100 ranking.