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7-Eleven converts its 50th store following the acquisition of the Mobil retail fuels business

7-Eleven converts its 50th store following the acquisition of the Mobil retail fuels business
Caption: 7-Eleven Blaxland opens 20 April 2011

Converted stores overtake previous year’s performance after an average of six weeks

Just six months into 7-Eleven’s acquisition of Mobil’s retail fuels business, 7-Eleven will be opening its 50th store in Upwey in Victoria, along with stores in Blaxland in NSW and Southport in Qld on 20 April 2011.

7-Eleven Chief Executive Officer, Warren Wilmot, said, “We’re excited that the conversion program is moving along as planned. We are seeing an overall trend that stores are overtaking their previous year’s performance after an average of six weeks of being converted to the 7-Eleven brand. While every store is different, we are very pleased with the strong growth results in both merchandise sales and profit that we are seeing so early in the life of our new stores.
“Opening three stores across three states on one day is truly an incredible effort from the 7-Eleven team and our partners, and it fills me with great pride to know that we have an excited group of both new and existing Franchisees keen to get trading in their stores to delight their customers,” Wilmot said.
Existing Franchisees reinvest in the 7-Eleven franchise system
With almost all of the planned conversion stores now franchised, it is a testament to the strength of the 7-Eleven brand and franchise system that over 50 per cent of the stores have been taken up internally by existing Franchisees and corporate staff and their family members.
“It is very encouraging to see so many of our current Franchisees interested in getting additional stores. It is a clear indicator of their belief and confidence in the 7-Eleven franchise system”, Mr. Wilmot said.
Tony Singh, who was already a 7-Eleven Franchisee, and who now has a second store at Penrith said, “My store is going really well! I am really happy with the results I am achieving and am delighted that my customers are having a positive experience when shopping in the store.
“After being converted to a 7-Eleven, the store has much better visibility with vibrant colours which are attracting much attention from customers. Customers can see 7-Eleven has added value to their shopping experience with the Slurpee zone, the munch food offer and our bread and milk value offer,” Mr. Singh said.
The average sales growth in the converted stores is currently running at 5.1 per cent when compared to the previous year’s sales. Most importantly we are averaging double digit profit growth which is a great outcome for the Franchisees who have taken up these stores.“We continue to be on track to convert most of the Mobil sites into 7-Eleven stores by the end of 2011. Based on the results we have seen, we are very excited about the future for our business once all the conversions are completed,” Wilmot concluded.
Note to editor:
High-res images are available upon request