7-Eleven To Not Renew Supply Agreement with Metcash

  • Nov 22, 2019 AEDT
  • Team Kalkine

Metcash Limited (ASX: MTS) announced that 7-Eleven will not be renewing the current supply agreement with MTS following its conclusion on 12 August 2020.

  • MTS was unable to reach the agreement with 7-Eleven on its supply requirements for the east coast, delivery routes and scheduling;
  • Metcash concluded that these requirements would lead to supply being uneconomic for its Convenience business;
  • Total Convenience annual sales to 7-Eleven are about $800 million, which comprise predominantly lower margin tobacco sales.

At AEST 01:20PM, the stock was trading at $2.6 per share, down by 11.3% from its previous close.


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