Editing 7-Eleven (section)

== History ==
[[File:7-eleven logo.svg|thumb|Logo used from 1989 to 2021, still seen in some stores. A variation of this logo is still used by [[Seven-Eleven Japan]].]]

In 1927, a Southland Ice Company employee named John Jefferson Green began selling ice. He subsequently began to sell eggs, milk, and bread from 16 ice house storefronts in [[Dallas]], with permission from one of Southland's founding directors, Joe&nbsp;C. Thompson Sr.<ref name="7-Eleven, Inc. History">[http://www.fundinguniverse.com/company-histories/7-eleven-inc-history/ "7-Eleven, Inc. History"] {{Webarchive|url=https://web.archive.org/web/20120705192831/http://www.fundinguniverse.com/company-histories/7-eleven-inc-history|date=July 5, 2012}} Retrieved July 20, 2012.</ref> Although small grocery stores and general merchandisers were available, Thompson theorized that selling products such as bread and milk in convenience stores would reduce the need for customers to travel long distances for basic items. Thompson eventually bought the Southland Ice Company and turned it into the Southland Corporation, which oversaw several locations in the Dallas area.<ref name="History - 7-Eleven Corporate">{{cite news |url=http://corp.7-eleven.com/corp-BAK/history |archive-url=https://web.archive.org/web/20170317220331/http://corp.7-eleven.com/corp-BAK/history |archive-date=March 17, 2017 |title=History – 7-Eleven Corporate |work=7-Eleven, Inc. |access-date=April 18, 2017 |url-status=dead}}</ref>

In 1928, a manager named Jenna Lira brought a [[totem pole]] from [[Alaska]] and placed it in front of her store. The pole served as a [[Marketing strategy|marketing tool]] for the company, as it attracted a great deal of attention. Soon, executives added totem poles in front of every store and eventually adopted an [[Alaska Natives|Alaska Native]]-inspired theme for their stores. Later on, the stores began operating under the name "Tote'm Stores". In the same year, the company began constructing [[filling station]]s in some of its Dallas locations as an experiment. Joe Thompson also provided a distinct characteristic to the company's stores, training the staff so that people would receive the same quality and service in every store. Southland also started to have a uniform for its ice station service boys.

In 1931, the [[Great Depression]] affected the company, sending it toward bankruptcy. Nevertheless, the company continued its operations through re-organization and [[receivership]]. A Dallas banker, W.&nbsp;W.&nbsp;Overton Jr., also helped to revive the company's finances by selling the company's bonds for seven cents on the dollar. This brought the company's ownership under the control of a board of directors.<ref>{{cite book|title=Hoover's Handbook of Private Companies|date=2010|publisher=Hoover's Business Press|page=209}}</ref>

In 1946, in an effort to continue the company's [[Post–World War II economic expansion|post-war]] recovery, the name of the franchise was changed to 7-Eleven to reflect the stores' new hours of operation (7&nbsp;am to 11&nbsp;pm), which were unprecedented at the time. In 1963, 7-Eleven experimented with a [[24/7 service|24-hour schedule]] in [[Austin, Texas]], after an Austin store stayed open all night to satisfy customer demand.<ref name="History - 7-Eleven Corporate"/> Later on, 24-hour stores were established in [[Fort Worth, Texas|Fort Worth]] and Dallas, Texas, as well as [[Las Vegas]], Nevada.<ref>{{cite web |url=http://corp.7-eleven.com/corp-BAK/open-around-the-clock |archive-url=https://web.archive.org/web/20170418090449/http://corp.7-eleven.com/corp-BAK/open-around-the-clock |archive-date=April 18, 2017 |title=Open Around the Clock – 7-Eleven Corporate |work=7-Eleven, Inc. |access-date=April 18, 2017 |url-status=dead}}</ref> In 1971, Southland acquired convenience stores of the former Pak-A-Sak chain owned by Graham Allen Penniman Sr., of [[Shreveport, Louisiana|Shreveport]], Louisiana.<ref>{{cite news |title=Edgar Erwin Penniman |work=[[Pensacola News Journal]] |date=May 2, 2015 |url=http://www.legacy.com/obituaries/pensacolanewsjournal/obituary.aspx?pid=174762130 |access-date=October 12, 2015 |archive-date=October 16, 2015 |archive-url=https://web.archive.org/web/20151016074440/http://www.legacy.com/obituaries/pensacolanewsjournal/obituary.aspx?pid=174762130 |url-status=live}}</ref>

With the purchase in 1963 of 126 Speedee Mart (all already open 7{{ndash}}11) franchised convenience stores in California, the company entered the franchise business. The company signed its first area licensing agreement in 1968 with Garb-Ko, Inc. of [[Saginaw, Michigan]], which became the first U.S. domestic area 7-Eleven licensee.

In the late 1980s, Southland Corporation was threatened by a rumored corporate takeover, prompting the Thompson family to take steps to convert the company into a private model by buying out public shareholders in a tender offer.<ref>{{cite news |last=Sims |first=Calvin |title=7-Eleven Owner in $5 Billion Deal to Sell Company |work=[[The New York Times]] |date=July 6, 1987 |url=https://www.nytimes.com/1987/07/06/business/7-eleven-owner-in-5-billion-deal-to-sell-company.html |url-access=subscription |access-date=August 4, 2015 |archive-date=September 13, 2015 |archive-url=https://web.archive.org/web/20150913133800/http://www.nytimes.com/1987/07/06/business/7-eleven-owner-in-5-billion-deal-to-sell-company.html |url-status=live}}</ref> In December 1987, [[John Philp Thompson Sr.]], the chairman and CEO of 7-Eleven, completed a $5.2&nbsp;billion [[management buyout]] of the company.<ref>{{cite news |title=Company News; Southland Holders Approve Buyout |work=[[The New York Times]] |agency=[[Associated Press]] |date=December 9, 1987 |url=https://www.nytimes.com/1987/12/09/business/company-news-southland-holders-approve-buyout.html |url-access=subscription |access-date=August 3, 2015 |archive-date=July 6, 2015 |archive-url=https://web.archive.org/web/20150706074640/http://www.nytimes.com/1987/12/09/business/company-news-southland-holders-approve-buyout.html |url-status=live}}</ref> The buyout suffered from the effects of the [[Black Monday (1987)|1987 stock market crash]] and after failing initially to raise high yield debt financing, the company was required to offer a portion of stock as an inducement to invest in the company's bonds.<ref>{{cite news |last=Frank |first=Peter H. |url=https://www.nytimes.com/1987/11/11/business/southland-buyout-hits-snag.html |url-access=subscription |title=Southland Buyout Hits Snag |work=[[The New York Times]]|date=November 11, 1987 |access-date=August 3, 2015 |archive-date=July 6, 2015 |archive-url=https://web.archive.org/web/20150706035704/http://www.nytimes.com/1987/11/11/business/southland-buyout-hits-snag.html |url-status=live}}</ref><ref>{{cite news |last=Wayne |first=Leslie |url=https://www.nytimes.com/1988/01/04/business/takeovers-revert-to-the-old-mode.html |url-access=subscription |title=Takeovers Revert to the Old Mode |work=[[The New York Times]] |date=January 4, 1988 |access-date=August 3, 2015 |archive-date=July 5, 2015 |archive-url=https://web.archive.org/web/20150705132729/http://www.nytimes.com/1988/01/04/business/takeovers-revert-to-the-old-mode.html |url-status=live}}</ref>

Various assets, such as the [[Chief Auto Parts]] chain,<ref>{{cite news |title=Company News: Southland to Sell Chief Auto Unit |url=https://www.nytimes.com/1987/12/25/business/company-news-southland-to-sell-chief-auto-unit.html |url-access=subscription |access-date=August 4, 2015 |work=[[The New York Times]] |agency=[[Reuters]] |date=December 25, 1987 |archive-date=May 24, 2015 |archive-url=https://web.archive.org/web/20150524213259/http://www.nytimes.com/1987/12/25/business/company-news-southland-to-sell-chief-auto-unit.html |url-status=live}}</ref> the [[Reddy Ice|ice division]],<ref>{{cite news |title=Company News: Southland Sells Reddy Ice Unit |work=[[The New York Times]] |agency=[[Associated Press]] |date=March 5, 1988 |url=https://www.nytimes.com/1988/03/05/business/company-news-southland-sells-reddy-ice-unit.html |url-access=subscription |access-date=August 4, 2015 |archive-date=May 25, 2015 |archive-url=https://web.archive.org/web/20150525082017/http://www.nytimes.com/1988/03/05/business/company-news-southland-sells-reddy-ice-unit.html |url-status=live}}</ref> and hundreds of store locations,<ref>{{cite news |title=Company News: Circle K Will Acquire 473 7-Eleven Stores |work=[[The New York Times]] |agency=[[Associated Press]] |date=March 1, 1988 |url=https://www.nytimes.com/1988/03/01/business/company-news-circle-k-will-acquire-473-7-eleven-stores.html |url-access=subscription |access-date=August 4, 2015 |archive-date=May 25, 2015 |archive-url=https://web.archive.org/web/20150525080727/http://www.nytimes.com/1988/03/01/business/company-news-circle-k-will-acquire-473-7-eleven-stores.html |url-status=live}}</ref> were sold between 1987 and 1990 to relieve debt incurred during the buyout. This downsizing also resulted in numerous metropolitan areas losing 7-Eleven stores to rival convenience store operators. In October 1990, the heavily indebted Southland Corp. filed a [[Pre-packaged insolvency|pre-packaged]] [[Chapter 11, Title 11, United States Code|Chapter 11 bankruptcy]] in order to transfer control of 70% of the company to Japanese affiliate [[Ito-Yokado]].<ref>{{cite news |last=Silverstein |first=Stuart |title=7-Eleven Parent Files 'Prepackaged' Bankruptcy : Retailing: Southland Corp. hopes to expedite the sale of the convenience store chain to its longtime affiliate in Japan|url=https://www.latimes.com/archives/la-xpm-1990-10-25-fi-4478-story.html |url-access=subscription |access-date=August 4, 2015 |work=[[Los Angeles Times]] |date=October 25, 1990 |archive-date=October 9, 2015 |archive-url=https://web.archive.org/web/20151009014736/http://articles.latimes.com/1990-10-25/business/fi-4478_1_prepackaged-bankruptcy |url-status=live}}</ref>

Southland exited bankruptcy in March 1991, after a cash infusion of $430&nbsp;million from Ito-Yokado and Seven-Eleven Japan. These two Japanese entities now controlled 70% of the company, with the founding Thompson family retaining 5 percent.<ref>{{cite news |title=Japanese Firms Pull Southland Corp. From Chapter 11 : Bankruptcy: The two companies pumped $430 million into the parent company of the 7-Eleven chain for 70% of its stock |url=https://www.latimes.com/archives/la-xpm-1991-03-06-fi-171-story.html |url-access=subscription |access-date=August 4, 2015 |work=[[Los Angeles Times]] |date=March 6, 1991 |archive-date=September 4, 2015 |archive-url=https://web.archive.org/web/20150904045524/http://articles.latimes.com/1991-03-06/business/fi-171_1_japanese-companies |url-status=live}}</ref> In 1999, Southland Corp. changed its name to 7-Eleven, Inc., citing the divestment of operations other than 7-Eleven.<ref>{{cite news |title=Southland is changing its name to 7-Eleven |url=https://www.nytimes.com/1999/03/10/business/southland-is-changing-its-name-to-7-eleven.html |url-access=subscription |access-date=August 4, 2015 |work=[[Los Angeles Times]] |date=March 10, 1999 |archive-date=May 27, 2015 |archive-url=https://web.archive.org/web/20150527100947/http://www.nytimes.com/1999/03/10/business/southland-is-changing-its-name-to-7-eleven.html |url-status=live}}</ref> In 2005, Seven-Eleven Japan made a tender offer and 7-Eleven, Inc. became its wholly owned subsidiary.<ref name="andi2005"/> In 2007, Seven & i Holdings announced that it would be expanding its U.S. operations, with an additional 1,000 7-Eleven stores in the U.S.

For the 2010 rankings, 7-Eleven climbed to the No.&nbsp;3 spot in ''Entrepreneur'' magazine's 31st Annual Franchise&nbsp;500, "the first and most comprehensive ranking in the world". This was the 17th year 7-Eleven was named in the top&nbsp;10.{{Citation needed|date=September 2024}}

In February 2010, 7-Eleven opened a concept store in [[DeLand, Florida]] across from [[Stetson University]], designed to meet [[LEED]] environmental standards.<ref>{{Cite web |title=7-Eleven Goes 'Green' in Fla. |website=cspdailynews.com |url=https://www.cspdailynews.com/company-news/7-eleven-goes-green-fla |access-date=2024-09-06}}</ref>

In 2020, 7-Eleven announced it would purchase [[Speedway (store)|Speedway]] for $21&nbsp;billion.<ref>{{cite news|last=Enjoji|first=Kaori|title=7-Eleven owner buys Speedway gas stations for $21 billion|url=https://www.cnn.com/2020/08/03/business/speedway-7-eleven-marathon-deal-intl-hnk/index.html|access-date=23 September 2020|work=CNN|date=3 August 2020|archive-date=September 20, 2020|archive-url=https://web.archive.org/web/20200920150616/https://www.cnn.com/2020/08/03/business/speedway-7-eleven-marathon-deal-intl-hnk/index.html|url-status=live}}</ref>

In 2021, 7-Eleven rolled out a $70 million ad campaign, their largest investment in advertising in years, doubling their market spending from the previous year. The commercials, directed by [[Harmony Korine]], are to reflect the "evolution" of the chain's store format, drawing attention to, in part, the fact that "this isn't just gas station food, there's real restaurant quality food at 7-Eleven", according to CMO Marissa Jarrantt.<ref>{{cite web|title=7-Eleven Launches 'Take it to Eleven!' Campaign|url=https://www.convenience.org/Media/Daily/2021/Apr/28/1-7-11-Launches-Take-it-to-11-Campaign_Marketing|access-date=2021-04-29|website=Convenience.org|archive-date=April 29, 2021|archive-url=https://web.archive.org/web/20210429195846/https://www.convenience.org/Media/Daily/2021/Apr/28/1-7-11-Launches-Take-it-to-11-Campaign_Marketing|url-status=live}}</ref><ref>{{cite web |last=Lindenberg |first=Greg |date=2021-04-28 |title=7-Eleven Invests $70 Million in New Brand Campaign |website=cspdailynews.com |url=https://www.cspdailynews.com/company-news/7-eleven-invests-70-million-new-brand-campaign |access-date=2021-04-29 |archive-date=April 29, 2021 |archive-url=https://web.archive.org/web/20210429195846/https://www.cspdailynews.com/company-news/7-eleven-invests-70-million-new-brand-campaign |url-status=live}}</ref><ref>{{Cite news |last=Ives |first=Nat |date=2021-04-28 |title=7-Eleven Taps 'Spring Breakers' Director Harmony Korine for $70 Million Marketing Campaign |work=[[The Wall Street Journal]] |url=https://www.wsj.com/articles/7-eleven-taps-spring-breakers-director-harmony-korine-for-70-million-marketing-campaign-11619607612 |access-date=2021-04-29 |url-access=subscription |archive-date=April 29, 2021 |archive-url=https://web.archive.org/web/20210429195845/https://www.wsj.com/articles/7-eleven-taps-spring-breakers-director-harmony-korine-for-70-million-marketing-campaign-11619607612 |url-status=live}}</ref>

On August 19, 2024, it was reported that [[Alimentation Couche-Tard]]—owner of competitor [[Circle K]]—had made a buyout offer for Seven & i Holdings.<ref>{{Cite news |date=19 August 2024 |title=7-Eleven Gets Buyout Offer From Canadian Owner of Circle K |url=https://www.nytimes.com/2024/08/19/business/7-11-7-i-couche-tard-circle-k.html |url-access=subscription |access-date= |work=[[The New York Times]]}}</ref> Later, on September 6, 2024, Seven & i Holdings rejected this offer as too low and rife with regulatory risk, although a "sweetened offer" may be considered.<ref>{{cite web |last=Yoshida |first=Koh |title=Seven & I Rejects Couche-Tard's Takeover Proposal as Too Low |url=https://www.bnnbloomberg.ca/investing/2024/09/06/seven-i-dips-on-plans-to-tell-couche-tard-proposal-too-low/ |website=BNN Bloomberg |access-date=6 September 2024 |date=6 September 2024}}</ref>

On March 6, 2025, 7-Eleven's parent company Seven & I Holdings announced that it would spin off the US store operations into its own publicly traded entity by the end of 2026, following the announcement of the appointment of its first non-Japanese CEO in Stephen Hayes Dacus.<ref>{{cite web |title=Seven & i Holdings Announces Plan to Unlock Shareholder Value Through Leadership Changes and Transformational Capital and Business Initiatives |url=https://www.7andi.com/library/dbps_data/_material_/localhost/en/release_pdf/2025_0306_ir01en.pdf |website=Seven & I Holdings Investor Relations |publisher=Seven & I Co. Ltd. |access-date=7 March 2025}}</ref>