Seven & i Says 7-Eleven U.S. IPO Timing Hinges on Turnaround, Market Conditions

Seven & i Holdings CEO Stephen Dacus said the timing of a U.S. initial public offering for the company's North American convenience-store unit depends on progress in its turnaround and broader market conditions, Bloomberg reported. "The objective is to increase shareholder value," Dacus said, adding that AI has drawn investor attention away from retail and consumer-products IPOs. Dacus appointed former Keurig Dr Pepper executive Mauricio Leyva to lead the North American unit and prepare it for a listing. The unit's operating profit rose 46% year over year to $1.3 billion for the six months ending in August, helped by higher fuel prices. Leyva said the recovery centers on fresh food and supply chain management, using Japan as a model. Seven & i reported Thursday that second-quarter net profit fell 12% to ¥63.84 billion, with its full-year outlook unchanged at ¥10.430 trillion in revenue and ¥284.00 billion in net profit. The company plans to close 645 North American stores in fiscal 2026 against 205 openings, and delayed the listing until at least the fiscal year beginning next March, after Alimentation Couche-Tard abandoned a roughly $47 billion takeover bid.