UNDERNEWS

Undernews is the online report of the Progressive Review, edited by Sam Smith, who covered Washington during all or part of one quarter of America's presidencies and edited alternative journals since 1964. The Review has been on the web since 1995. See main page for full contents

July 24, 2009

7-11 GROWING DESPITE RECESSION

LA Times - In a move that could nearly double its Southern California footprint, the 7-Eleven convenience store chain is taking steps to lease up to 600 new locations in the region.

The company hired commercial real estate broker CB Richard Ellis on Thursday to begin scouting locations for a planned seven-year expansion that would add to the 800 stores that 7-Eleven operates from San Luis Obispo County to the Mexico border.

7-Eleven, a Dallas unit of Tokyo-based Seven & I Holdings Co., said that by launching so many stores in the middle of a crushing real estate downturn it will save millions of dollars on rent.

Buoyed by an uptick in convenience store sales nationwide and support from its Japanese corporate parent, officials at 7-Eleven say they want to restore the empire that the company reigned over before gas stations and other retailers moved onto their turf.

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