7-Eleven is celebrating the achievement of two important milestones this week, having just opened its 500th branded store and converted its 100th Mobil retail fuel sites since acquiring the business in October 2010.
The 500th store was opened in the New South Wales town of Dapto, which is also a recent Mobil conversion.
7-Eleven Chief Executive Officer Warren Wilmot said the company is “delighted” about both achievements.
“Jointly, they underline how established and well-recognised the 7-Eleven brand has become in the Australian convenience market. It’s very exciting to see more Australians able to enjoy the 7-Eleven experience with our increased store presence.”
Since the first 7-Eleven store opened in 1977, the business has been opening an average of 15 new outlets per year – which equates to more than one a month.
According to Wilmot, a major boost to the growth of 7-Eleven has been the progress made in converting Mobil sites, which is occurring at an average of four stores per week.
“We are now almost half way through the conversion process and we are on track to convert the majority of stores by December 2011.”
Post conversion, stores immediately experience a lift in merchandise sales and profit, particularly in food service products such as “munch” and Slurpee, Wilmot revealed.
“These milestones are a tremendous result for the 7-Eleven team, our partners and our franchisees, and are testament to 7-Eleven’s formula to successful convenience retailing.”