7-ELEVEN HISTORY

John Jefferson Green began selling eggs, milk and bread in Dallas with permission from one of
Southland's founding directors, Joe C. Thompson, Sr in 1927. In spite of the fact that the only
available is general merchandise on his small store, Thompson theorized that selling products
such as bread and milk in convenience stores would reduce the need for customers to travel
long distances for basic items. Jenna Lira brought a totem pole as a souvenir from Alaska and
placed it in front of the store and served as a marketing tool for the company to attract customer
and get an attention in 1928. As an experiment, in the same year, the company began
constructing gas stations in some of its Dallas locations. Joe Thompson provides a distinct
characteristics to the company’s store training the staff so that people would receive the same
quality and service in every store and they also started to have a uniform for their ice station
service boys which has a major factor in the company’s success as a retail convenience store.
The great depression affected the company and sending it toward to bankruptcy in spit e of that,
the company continued its operations through re-organization and receivership in 1931.
To revive the company‘s finances, W.W. Overton Jr. a Dallas banker helps the company by
selling the bonds and this brought the company's ownership under the control of a board of
directors. In an effort to continue the company's post-war recovery, the stores' new hours of
operation was 7am to 11pm in which the franchise was changed to 7-Eleven to reflect the
store’s new hours of operation. 7-Eleven experimented with a 24-hour schedule in Austin,
Texas, after an Austin store stayed open all night to satisfy customer demand, later on, 24-hour
stores were established in Fort Worth and Dallas, Texas, as well as Las Vegas, Nevada in 1963.
Southland Corporation bought a convenience stores of the former Pak-A-Sak chain owned by
Graham Allen Penniman Sr. in 1971. With the purchase of 126 Speedee Mart franchised
convenience stores in California, the company entered the franchise business in 1964.
Southland Corporation was threatened by a rumored corporate takeover, prompting the
Thompson family to take steps to convert the company into a private model by buying out public
shareholders in a tender offer in the late 1980’s. John Philp Thompson, the chairman and CEO
of 7-Eleven, completed a $5.2 billion management buyout of the company in December 1987.
The buyout suffered from the effects of the 1987 stock market crash and after failing initially to
raise high yield debt financing, the company was required to offer a portion of stock as an
inducement to invest in the company's bonds.
In 1999, Southland Corp. changed its name to 7-Eleven, Inc., citing the divestment of operations
other than 7-Eleven. Ito-Yokado formed Seven & I Holdings Co. and 7-Eleven became its
subsidiary in 2005. Seven & I Holdings announced that it would be expanding its American
operations, with an additional 1,000 7-Eleven stores in the United States in 2007. 7-Eleven
climbed to the No. 3 spot in Entrepreneur Magazine's 31st Annual Franchise 500, "the first and
most comprehensive ranking in the world" for the 2010 rankings this was the 17th year 7-Eleven
was named in the top 10. The first "green" 7-Eleven store opened in DeLand, Florida in 2010,
the store features U.S. Green Building Council's (USGBC) Leadership in Energy and
Environmental Design (LEED) elements also environmentally-friendly design brings the store
savings in energy costs. On the same year, 7-Eleven went mobile with the launch of the Slurpee
drink's iPhone and Android Application (App). The Slurpee drink app made it easy to find 7-
Eleven stores and provides driving directions. The following year, 7-Eleven celebrated its
40,000th store opening and within two years of that milestone opened its 50,000th store.
7-ELEVEN HISTORY IN THE PHILIPPINES

On 23rd of November 1982, Philippine Seven Corporation (PSC) was registered with the
Securities and Exchange Commission (SEC) and from Southland Corporation or Seven Eleven
Inc. (SEI) it acquired the license to operate 7-Eleven stores in the Philippines in December 13,
1982. The operation starts with the opening of its first store at the corner of Kamias Road and
EDSA Quezon City, Metro Manila in February 29, 1984, the company grew slowly in its first few
years because of the country’s economic condition on that year. PSC transferred the Philippine
area license to operate 7-Eleven stores to its associated with Phil-Seven Properties Corporation
(PSPC) and some of its store properties in July 28, 1988. In exchange thereof, PSC received
47% of PSPC stock as payment. Coincidentally, PSC entered into a sublicensing agreement
with PSPC to operate 7-Eleven stores in Metro Manila and other residential areas. As part of
PSPC’s business, they bought and leased commercial properties and constructed retail store
buildings, because of this PSC concentrated on managing its stores and effectively took the role
of a pure retailer.
The stockholders of both PSC and PSPC approved the merger of the two companies to
advance PSC group’s expansion in May 2, 1996 and in October 30, 1996, SEC approved the
merger and PSPC was then absorbed by PSC as the surviving entity. With the said merger,
PSC retailing strength were complemented by the property and franchise holdings of PSPC. As
a single entity, their management enhanced their operational efficiency and strengthened ability
to raise capital for growth. In February 04, 1998, PSC listed its shares (SEVN) in the Philippine
Stock Exchange and had its initial public offering and in September 17 on the same year, PSC
established Convenience Distribution Inc. (CDI), a wholly owned subsidiary, to provide logistics
planning and services to its 7-Eleven stores. With the effectivity of R.A. 8762 or the Retail Trade
Liberalization, they allowed foreign entities to invest in an existing retail company subject to the
requirements of the law on March 25, 2000.

President Chain Store Corporation (Labuan) a licensee 7-Eleven in Taiwan provided a source
for technical support to strengthen PSC’s organizational structure and operating systems and
pursue store expansion plans. On November 09, 2000 as the entity to own land properties, a
new affiliate Store Sites Holding Inc. (SSHI) was stablished, this properties are leased to PSC
by SSHI. In August 31, 2007, PSC area license to operate 7-Eleven Stores in the Philippines
was renewed because it is renewable every 10 years and the Renewal Area License Agreement
has been approved by and registered with the Intellectual Property Office as of September 25,
2007. On October 02 in the same year, PSC initiated the establishment of PhilSeven
Foundation, Inc. (PFI) to support its corporate social responsibility programs and grant a
certificate of registration by DSWD after completing the two (2) year operation requirement on
August 06, 2010. In October 10, 2013, PFI became a member of the League of Corporate
Foundations, Inc. and DSWD issued a Certificate of Registration to PFI allowing it to expand its
operations from NCR to nationwide which is valid for 3 years in July 08, 2016. As of December
31, 2018, the Company has a total of 3,166 direct hires and augments its temporary needs
during peak hours or season in the stores and the support services units with cooperative
members.