Seven & I-owned 7-Eleven plans to open a further 1,000 convenience stores in Japan in the next year and to close 500 to 600 underperforming outlets, local press reported.
Its 2010 financial year will be the second year of such large scrap-and-build expansion. Many of the new stores will be located within train stations or next to gas stations.
For the three months to November 30, 2009, Seven & I sales dropped 12% to JPY3.82 trillion (£26.2bn). Net income slumped to JPY69.3bn (£475m), compared with JPY101.7bn (£697m) the year before.