7-Eleven Takes New England
By George Anderson
Jim Keyes, chief executive officer, 7-Eleven is looking to go home again, sort
of.
Mr. Keyes, a favorite son of Grafton, Mass., has announced the company plans
to add 60 Boston-area stores over the next three years.
The decision to build-up its presence in Boston is part of the company’s larger
plan for growth in key regions including the Chicagoland area and Florida.
Boston and Chicago were targeted for expansion because of the large numbers
of high-tech and medical professionals in those areas. Mr. Keyes told the Boston
Business Journal, “Industries that are populated by time-starved individuals
needing convenience.”
Florida was chosen because the state continues to attract new residents in
search of warmer weather and jobs.
Moderator’s Comment: Do you think 7-Eleven is looking
for a foothold in areas (Boston, Chicago, Florida) that currently have too many
stores or is it moving in to fill a consumer need that is not presently being
met?
Based on his relative’s response, Mr. Keyes and 7-Eleven
have some work ahead, at least in New England. “It was very humbling because
many of my family members don’t even know what I do. They ask, ‘Is it like Cumberland
Farms?’ ” [George
Anderson – Moderator]