Seven & i, the Japanese owner of 7-Eleven, has delayed the IPO of its North American convenience store business from 2025 to the 2027 financial year, dealing a blow to its turnaround plan. The delay reflects struggles with sales and profits across more than 13,000 US and Canadian stores as consumers facing inflation turn to discount retailers.

CEO Stephen Dacus confirmed the postponement, stating the timing will be driven strictly by value amid slow progress in turning around the business and challenging market conditions. The announcement sent Seven & i shares down 4.6%, as investors remain unconvinced the company's standalone strategy is working despite fending off a $47bn takeover attempt from Canadian rival Alimentation Couche-Tard last year.

The IPO was positioned as a key pillar to boost valuation and generate cash for shareholder returns and international expansion. Sales have declined in three of four quarters during the 2026 financial year, with revenue dropping 13% to ¥10.4tn despite a 69% increase in net profit. Dacus maintains the ¥2tn share buyback program remains intact.