7-Eleven keen on replacing Jiffy stores

       CP All Plc, the operator of the 7-Eleven convenience store chain, is negotiating with PTT Plc to open retail outlets at all of the retail fuel market leader's service stations.
       Piyawat Titasattavorakul, the president of CP All, said the company was in talks with PTT to change the existing Jiffy stores - operated by PTT Retail Management - into 7-Eleven outlets.
       The move is aimed at driving CP All's long-term business growth, he said.
       CP All operates 7-Eleven, Book Smile,and X-ta, a health and beauty store.
       "We expect to conclude the business deal with PTT in three months," he said.
       Mr Piyawat said the company would continue to expand its convenience store business but the new stores would be opened on a franchise basis rather than through its own investment.
       The company plans to increase the proportion of 7-Eleven franchised stores to 60% of the total in the next five years,from the 46% planned for the year-end.
       CP All expects to have 5,200 convenience stores by the year-end.
       "We believe franchisees can better control operating costs, so they will create more sales and profits for us," he said.
       Currently,90% of 7-Eleven convenience stores in Japan and 80% in the US are operated by franchisees.
       CP All shares closed yesterday on the SET at 18.40 baht, up 40 satang, in trade worth 141.77 million baht.