OPERATIONS

7-Eleven to more than double North American store counts

BY Katherine Boccaccio

Tokyo — A Sunday report by Bloomberg said that 7-Eleven parent Seven & I Holdings Co. is planning more acquisitions here and may more than double the number of c-store stores it operates in North America.

The company “could increase our store number to 20,000 or even 30,000 [in North America],” chairman Toshifumi Suzuki told Bloomberg in an interview. 7-Eleven currently has more than 8,000 convenience stores in North America.

No time-frame for the planned expansion has been defined.

Seven & I has been acquiring smaller c-store chains in the U.S., adding more than 650 units in North America in the last fiscal year.

“There will be a huge potential in expansion in large cities in the U.S.,” Dairo Murata, analyst at JPMorgan Securities Japan Co., told Bloomberg.

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FINANCE

Survey: Father’s Day 2013 sales to reach $13 billion

BY Katherine Boccaccio

New York — Research released by IBISWorld showed that Father’s Day sales are forecast to total $13 billion in 2013, a 2% year-over-year increase. Results are expected to get a boost from the overall rise in consumer spending.

Special outings, such as dining out and watching sporting events, are expected to account for the largest share of Father’s Day spending this year, contributing 18.8% of total holiday sales, up 3.5% from 2012.

Behind outings, gifts of books, CDs, personal care products and sporting goods are expected to account for 18.4% of Father’s Day 2013, up 2% from last year.

Greeting card sales will also see an increase over 2012, slated to jump 9%. Apparel spending, however, is slated to dip slightly this year, as consumers lean more toward electronics purchases for Dad. Gift cards will remain a holiday mainstay, accounting for 13% of Father’s Day spending – which is the same as 2012.

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News

Walmart annual shareholders meeting slated for June 7

BY Katherine Boccaccio

Bentonville, Ark. — Wal-Mart Stores Inc. will hold its Annual Meeting of Shareholders on Friday, June 7, including an executive update by president and CEO Mike Duke.

As many as 14,000 global Walmart associates are also attending the event, most arriving in time for elaborate pre-meeting activities. "Our success is only possible because of the hard work and dedication of our 2.2 million associates around the world,” said Susan Chambers, executive VP global people, at Walmart.

Weeklong events, which include entertainment headliners Elton John and country music star Luke Bryan, highlight job and career opportunities for existing Walmart employees.

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