Q3 Revenue Falls to $339.47M, CEO Discusses E-commerce Challenges
Reports Q3 revenue $339.47M vs. $390.17M last year. Comparable retail sales decreased 5.4% for the quarter. Muhammad Umair, president and CEO said, "Our third quarter results reflect the challenges we are experiencing in our ecommerce business, with periods of high volatility as we implement our strategic transformation. Separately, our marketing efficiency was also impeded during the quarter in our transition to a new marketing agency and a heightened promotional strategy. Our new operating model envisions an increased physical store presence, and a merchandising reset that adds a more balanced mix of fashion and basics to our product assortment. Our brick-and-mortar business capitalized on its momentum from our second quarter and generated a 2% growth in comparable sales, and as we continue to invest in our real estate portfolio with operational and financial discipline, our new stores are generating results that are outperforming the rest of the fleet. We believe our increased store base will strengthen our omni-channel proposition to our customers that love to experience our beloved brands, both in-store or online."
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7-Eleven Appoints Interim Co-CEOs Following Joe DePinto's Retirement
- Leadership Change: 7-Eleven announced that Joe DePinto will retire at the end of 2025, with Stan Reynolds and Doug Rosencrans appointed as Interim Co-CEOs to ensure stability during the search for a new leader.
- Strategic Transformation: The new Co-CEOs will be responsible for driving the company's transformation and growth in the North American market, particularly in digital and logistics, to enhance overall business performance and shareholder value.
- Rich Experience: Stan Reynolds has served as President since 2023, bringing over 20 years of financial and strategic management experience, while Doug Rosencrans has been COO since 2022, overseeing profitability for over 13,000 stores.
- Future Outlook: The Board is engaged in a comprehensive search for DePinto's successor through a globally recognized executive search firm, aiming to find a candidate who can further advance 7-Eleven's transformation and enhance customer experience.

7-Eleven Appoints Interim Co-CEOs Following Joe DePinto's Retirement
- Leadership Transition: 7-Eleven announced that Joe DePinto will retire at the end of 2025, with Stan Reynolds and Doug Rosencrans appointed as Interim Co-CEOs, ensuring stability and continuity during the search for a new CEO.
- Strategic Transformation: The new leadership will drive a series of capital and business initiatives aimed at enhancing performance and creating shareholder value, indicating 7-Eleven's pursuit of stronger competitiveness in the rapidly evolving convenience store market.
- Market Expansion: As the largest convenience store chain in North America, 7-Eleven operates over 13,000 stores in the U.S. and Canada, with the new leadership team committed to further expanding market share and enhancing customer experience.
- Executive Background: Stan Reynolds has been President since 2023, overseeing finance and strategic transformation, while Doug Rosencrans has served as COO since 2022, responsible for supporting growth and profitability for over 13,000 stores, providing robust support for the company's future development.









