ND1020115

Title: 7-Eleven Plans Major Ontario Expansion

Description: 7-Eleven?s presence in Canada would increase by nearly 50 percent.

Page Content:

TORONTO ? The Financial Post reports that 7-Eleven is planning to announce a major expansion in Ontario, opening up to 200 new corporate stores in the next five years, with a focus on the Toronto area.

�

The move would increase 7-Eleven?s Canadian store count of 467 by nearly 50 percent. The company lauds Toronto as a prime market and one that is business friendly, with a diverse population and significant growth potential.

�

?What is driving our growth plan is we believe we are incredibly under-stored in a vibrant area of Canada. There are a lot of people here and not nearly enough 7-Elevens,? said Ken Barnes, regional development director for 7-Eleven, adding he plans to finalize at least a dozen deals by the end of the year.

�

The company plans to implement flexible store models that appeal to both operators in Toronto?s downtown as well as those in suburban gas stations.

�

7-Eleven?s expansion will challenge Toronto?s convenience store leader, Alimentation Couche-Tarde Inc., which has more than 2,000 stores across Canada, including stores under the ?Mac?s? brand.

�

?In convenience, you have Mac?s but our plan is flexible. We will go into strip centers,? Barnes said. ?I?ll go on Yonge Street in an office tower (in Toronto) or I?ll build out with a gas offering.?

�

U.S. merchants have been eyeing the Canadian market, especially as the recession draws down, noting the U.S. has 23 square feet of shopping space per capita to Canada?s 14 square feet per capita.

�

?Retailers seem to think Canada is an attractive opportunity because it has held up much better [than the U.S.] since the 2009 downturn ? better economy, better employment ? and we are seeing retailers capitalizing on that opportunity,? said Peter Sklar, a retailing analyst at BMO Capital Markets.

Content Subject: International

Formatted Article Date: October 20, 2011

sell cool stuff