Convenience giant 7-Eleven is closing 200 underperforming stores and converting 350 sites to wholesale in fiscal 2026, the company shared during its fiscal first-quarter earnings presentation Thursday.

7-Eleven will also close its remaining 95 locations for non-performance-based reasons, such as franchise terminations and other contractual situations, and will open around 200 new, food-focused locations during this period, a 7-Eleven spokesperson told C-Store Dive earlier this week.

The chain, owned by Japan's Seven & i Holdings, has 13,000 locations across the U.S. alone. By next March, that total is expected to have declined to 12,272.

The store changes are part of 7-Eleven's broader modernization strategy. During its April Investor Day, the company announced plans to remodel more than 7,000 stores by 2030, with expanded fresh food offerings at the center of the effort.

As part of the initiative, 7-Eleven aims to generate an additional $1 billion in fresh food sales and open 1,100 new restaurants by 2030.

Fiscal year 2026 started in March.