Strategic Corporate Shift

The dominant business angle is sector disruption through footprint optimization. Seven & i said part of the closures will involve converting some stores into wholesale fuel-only formats, extending a model that already covers more than 900 North American sites as of December 2025. This signals a deliberate shift away from lower-return convenience retail boxes toward fuel-distribution economics and leaner operating structures.

The restructuring also reflects a multi-year contraction trend. Company figures show North America has now recorded several consecutive years in which store closures exceeded openings, indicating that this is not a one-off retrenchment but part of a longer strategic recalibration.

Consumer Spending and Macro Pressure

Seven & i’s filings point to softer personal consumption, particularly among lower-income households, as inflation continues to pressure discretionary spending. This matters because convenience retail depends heavily on frequent small-ticket purchases—snacks, beverages, tobacco alternatives and impulse fuel-adjacent items—which are among the first categories affected when household budgets tighten.

The company’s decision also comes as energy market volatility adds uncertainty to fuel demand behavior and station economics. Higher gasoline prices can temporarily lift fuel revenue per visit, but they may simultaneously suppress discretionary in-store purchases, compressing profitability at marginal locations.

Financial Outlook and Revenue Pressure

Seven & i expects fiscal-year revenue to decline 9.4% to roughly 9.45 trillion yen ($59.5 billion), according to its latest outlook. That top-line pressure strengthens the financial rationale for store rationalization, especially in a mature North American market where operational efficiency often drives earnings resilience more than unit growth.

The sharper economic signal for investors is that closures now materially outpace expansion. With 645 closures against 205 openings, net store count contraction suggests management is prioritizing return on invested capital, margin preservation and fuel-network efficiency over market share expansion.

Industry Comparison and Strategic Outlook

The convenience sector globally is moving toward hybrid models that blend fuel, prepared food, delivery and digital loyalty ecosystems. Seven & i’s concurrent focus on “food forward” formats and delivery expansion indicates capital is being redirected toward higher-yield store concepts rather than legacy low-productivity sites.

For the broader retail industry, this reinforces a clear trend: physical footprints are increasingly judged by traffic quality and basket economics, not simply total unit count.

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Workers across the United States are taking on a growing mix of side jobs as stagnant salaries, persistent inflation, and fears of layoffs reshape household budgets. Many are building “portfolio careers,” combining traditional employment with gig work, freelance projects, or passion-driven ventures. Experts say the trend reflects a broader shift in how people manage financial risk and career development.

Why Polyworking Is On the Rise

The practice of holding two, three, or even four jobs has become increasingly visible as living costs rise faster than salaries. Economists note that wage growth for many workers has flattened over several years, while inflation and housing expenses continue to outpace earnings, according to data from the U.S. Bureau of Labor Statistics.

Researchers say this financial pressure is encouraging people to diversify their income streams rather than depend on a single employer. Alexandrea Ravenelle, a sociologist at the University of North Carolina at Chapel Hill who studies the gig economy, said the combination of rising expenses and economic uncertainty has prompted workers to create their own safety nets.

“We’ve seen stagnant salaries and the cost of living increasing, even beyond standard inflation measures,” she said. “People are looking for ways to supplement and protect themselves.”

A Growing Trend Among Younger Professionals

Many workers now seek side roles that align with personal interests or skills. For 29-year-old Katelyn Cusick in California, polyworking evolved into a mix of creative and professional pursuits.

Cusick works full-time as a visual merchandiser for Patagonia, but also manages influencer marketing for a German shoe company, runs an Etsy shop for her artwork, and ushers at local concerts. The varied schedule, she said, brings both financial stability and personal fulfillment.

“Every day feels different, and that’s why I started doing these side hustles,” she said. “I didn’t want to do the same thing every day.”

Although the motivations vary, many workers say that additional income helps cover student loan payments, rising rent, and other essential expenses.

The Rise of “Portfolio Careers”

Career advisers say the shift represents a broader rethinking of professional growth. Rather than following a single, linear career path, more people are developing multiple skill sets across several jobs.

Elaine Chen, director of the Derby Entrepreneurship Center at Tufts University, said workers increasingly view secondary roles as opportunities to test new skills or strengthen areas that may not be part of their primary job.

“Some people are putting together multiple side hustles based on their abilities and interests, building multiple revenue streams,” she said.

For some, these roles can enhance long-term career resilience by creating a more diverse professional profile.

Following a Passion While Earning Income

Experts advise that workers considering a side role choose something they genuinely enjoy, given the time commitment required. A passion-driven approach also helps maintain motivation during long hours.

In Salt Lake City, 31-year-old fundraiser Josie White pursued public speaking as a secondary career after finding effective treatment for schizoaffective disorder. She wanted to share her experience to support others facing mental health challenges.

While working full-time at a nonprofit, she began speaking at conferences and workshops, initially as a volunteer to build experience. She has since booked multiple engagements, with several now paid.

“The goal is ultimately to get paid,” she said. “Right now I’m putting in the legwork to reach that.”

Understanding the Financial Reality

Launching a side business can require initial investments, whether in training, marketing, supplies, or equipment. Experts caution that it may take months or more before income becomes steady.

White reinvests her speaking fees into skill development, emphasizing that growth can be slow at first. Career advisers recommend building realistic timelines and budgets before committing to a secondary venture.

The Realities of Gig Work

Some workers turn to gig platforms such as Uber, Instacart, or Grubhub because they offer quick income and flexible scheduling. However, researchers warn that gig work can come with long-term career risks.

Tom Ritter, 39, from Syracuse, New York, used delivery apps to supplement his full-time job in workforce management. When he recently lost his primary job, gig work helped him cover immediate expenses.

“Even that extra couple hundred dollars a month went a long way,” he said.

But Ravenelle cautions that heavy reliance on gig work can make it harder to transition back to stable, salaried employment. She also notes that algorithm changes on platforms can reduce earnings without warning.

“The house always wins when it comes to gig platforms,” she said.

Avoiding Scams and Unrealistic Promises

The rapid growth of the side-hustle economy has also attracted misleading online schemes. Some influencers promote business ideas that promise high returns but are designed to profit primarily from course fees, supplies, or memberships.

Ravenelle said she has interviewed workers who invested in growing microgreens at home after watching videos claiming they could earn thousands selling to restaurants. In many cases, the only people making substantial money were those selling the equipment and training.

Experts advise researching thoroughly, seeking independent reviews, and avoiding opportunities that promise quick profits with minimal effort.

Balancing Time and Well-Being

Juggling multiple jobs can significantly reduce personal time, limiting opportunities for rest, exercise, or social activities. Workers with portfolio careers often report long hours and fragmented schedules.

White works four long days each week at her nonprofit and devotes Fridays to building her speaking business. Although her schedule is demanding, she finds purpose in her work.

“I wouldn’t describe my life as balanced,” she said. “But am I enjoying it? Yes. And I think that matters.”

Experts recommend setting boundaries, planning regular downtime, and prioritizing health to avoid burnout.

Conclusion

The rise of polyworking reflects broader shifts in the labor market, where economic pressures and evolving career expectations drive workers to diversify their income. While the lifestyle can provide financial security and personal growth, experts emphasize the importance of realistic planning, careful research, and balancing workload with well-being.

Source: AP News – Workers turn to ‘polyworking’ to combat frozen salaries and inflation

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NEW YORK — For many American small business owners, the latest round of tariffs on Chinese imports has pushed them to the brink. With tariffs now as high as 145%, major product shipments are stranded overseas, invoices are piling up, and future operations are uncertain.

While President Donald Trump recently hinted that the tariffs could “come down substantially,” the damage is already being felt. For small businesses operating on tight margins, the financial strain and policy unpredictability have created a crisis with no clear end in sight.

In Manchester-by-the-Sea, Massachusetts, WS Game Company—a family-run business that creates deluxe editions of Hasbro classics like Monopoly and Scrabble—has seen its 25 years of growth abruptly stall.

The company’s games, which retail for $40 and were featured on Oprah’s Favorite Things list in 2024, are manufactured entirely in China. Now, three of its shipping containers—carrying $500,000 worth of finished games—are stuck overseas. More critically, the company lost $16 million in orders from three major U.S. retailers.

“We can’t just switch manufacturers overnight,” said owner Jonathan Silva. With only about four months of financial runway left, Silva warns, “These tariffs have disrupted our business and put us on the verge of insolvency.”

In Lexington, Kentucky, Jeremy Rice co-owns House, a home décor store that relies heavily on silk flowers from China—about 90% of their inventory.

Vendors are already hiking prices by 20% to 25%, and smaller suppliers are expected to raise them even higher. Despite ordering holiday stock early, Rice only has enough everyday inventory to last a few months.

“After that, I don’t know what we’re going to do,” he said, fearing a wave of small store closures similar to what happened during the Great Recession and the pandemic.

In Ann Arbor, Michigan, Lisa McDonald, owner of TeaHaus, says the tariffs have left her with a sinking feeling. Her shop, located near the University of Michigan, has served premium teas for nearly 18 years.

With the U.S. importing almost all of its tea due to climate and cost, McDonald can’t simply shift suppliers. Her premium blends—some priced up to $33 for a 50g bag—could become unaffordable if tariffs stay in place.

“We can’t just flip a switch and grow tea in America,” she said. “It’s not realistic.”

Jim Umlauf, owner of 4Knines in Oklahoma City, makes pet-friendly seat covers and cargo liners for vehicles—products that require specialized materials from China.

Umlauf tried moving production elsewhere after the 2018 tariffs but hit roadblocks. Now, with the newest tariffs in place, he says they’re barely surviving. “We have a limited amount of inventory left, and without some relief, we’ll run out soon.”

Frustrated by the lack of response from government officials, Umlauf added: “It’s time for policymakers to understand that trade policy affects real people, not just stock prices.”

For small businesses across America—from tea sellers to board game makers—the tariff war with China is doing more than reshaping trade policy. It’s threatening their very survival. Without swift relief or support, many could soon shut their doors for good.

Source: AP News – ‘Nowhere to turn’: Small businesses dependent on imports from China are feeling more desperate

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Party City, the iconic U.S. party supply retailer, is shutting down all its stores, ending nearly 40 years of business. CNN reports that the company will wind down operations immediately, marking the end of an era.

CEO’s Heartbreaking Announcement

In a video call with employees, CEO Barry Litwin shared the devastating news, telling staff that today would be their last day of work. The company, which has struggled for months, will not provide severance pay or extend employee benefits as it closes its doors.

“This is, without a doubt, the hardest message I’ve ever had to deliver,” Litwin said, expressing his sorrow over the company’s collapse. Despite Party City’s best efforts, it could not overcome its financial challenges, including soaring inflation and rising operational costs, which ultimately led to a significant decline in consumer spending.

Litwin acknowledged that Party City had fought tirelessly to avoid this outcome, but financial pressures made the winddown process inevitable.

A Long Road to Bankruptcy

The New Jersey-based company had only appointed Litwin as CEO four months ago, with his stated mission to improve Party City’s financial health. In January 2023, the company filed for bankruptcy, burdened by a staggering $1.7 billion in debt. The bankruptcy allowed it to eliminate nearly $1 billion in debt but still left the company with over $800 million to pay off, straining its finances throughout 2024.

Though Party City managed to keep most of its 800+ stores open, it closed more than 80 locations between 2022 and 2024, and its debt continued to weigh on its ability to recover.

A Sudden and Emotional End

The closure announcement shocked Party City employees, many of whom had not been informed of the company’s dire situation. Employees were sent home on December 10, and the corporate headquarters was locked down. Internal communications revealed growing confusion and frustration among staff, particularly after product development teams were abruptly recalled from a vendor trip and sent home.

Several workers expressed anger over the lack of transparency from management, especially after previous town hall meetings that projected optimism about the company’s future. Litwin later apologized for the communication breakdown, acknowledging the company’s failure to adequately inform employees about the impending closure.

Tearful Goodbyes and Hard Realities

Party City’s Chief Human Resources Officer, Karen McGowan, became emotional during the call, visibly shaken as she outlined the termination of benefits and severance for employees. “I certainly know this is a lot to take in,” McGowan said, her voice faltering as she paused to compose herself.

End of an Era for Party City

Once the largest party supply retailer in the U.S., Party City employed over 16,000 full-time and part-time workers in 2021. Known for selling balloons, Halloween costumes, and various party supplies, the company had long faced fierce competition from e-commerce giants, pop-up stores like Spirit Halloween, and large retailers such as Walmart, Amazon, and Costco.

The pandemic and a helium shortage further damaged Party City’s balloon business, adding to the financial strain. As consumer spending tightened in response to rising living costs, Party City became one of the latest casualties in a wave of retail bankruptcies.

Retail Decline Across the Nation

Party City’s closure comes as part of a broader trend of retail store closures in 2024, a year on track to see the highest number of closures since 2020. Just days ago, Big Lots announced it was also going out of business after a failed attempt to secure a rescue deal.

The growing list of retailer bankruptcies highlights the ongoing struggles faced by brick-and-mortar businesses as they navigate rising costs and shifting consumer habits.

Party City’s closure marks a major shift in the landscape of U.S. retail, signaling the end of a popular brand that had become synonymous with celebrations for decades.

Source

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Economic Concerns: Higher Costs and Inflation

Tariffs, which increase the price of foreign goods, can provide short-term protection for U.S. manufacturers. However, economists caution that they can also contribute to inflation, which may hurt other sectors of the economy.

Gary Schlossberg, a global strategist at Wells Fargo Investment Institute, acknowledged the protective effect of tariffs but noted that the resulting inflation could hurt manufacturers who rely on imported materials. “Depending on where you are in manufacturing, inflation could work against you,” he said.

During his first administration, Trump imposed tariffs on products like solar panels, washing machines, and certain metals. These measures were maintained by President Biden, with additional tariffs on Chinese goods. Now, Trump is proposing even more aggressive tariffs: 60%-100% on Chinese imports and a universal tariff of up to 20% on goods from other countries.

“We’ll lead an American manufacturing boom,” Trump said during a September speech in Georgia, predicting that tariffs would incentivize companies to build within the U.S.

However, these measures come at a cost. The Peterson Institute for International Economics estimates that tariffs could cost a typical American household more than $2,600 annually. According to the National Retail Federation, the tariffs could reduce American consumers’ spending power by $46 billion to $78 billion each year. For instance, a $50 pair of athletic shoes could increase to $64, and a $2,000 mattress set could rise to $2,190.

Impact on Manufacturers and Consumers

While tariffs might offer relief to some manufacturers, the rising costs could be passed on to consumers. For example, Matt Bigelow, president of Vermont Flannel, which sources fabric from Europe, expressed concern about the effect of tariffs on consumer prices, saying that inflation is already a real issue for his company.

Stephen Liquori, CEO of Goodwear USA, a Massachusetts-based apparel manufacturer, acknowledged that tariffs could level the playing field by raising the cost of imported goods. However, he questioned their long-term effectiveness, noting that some products are simply not feasible to produce domestically. “I’m realistic about that. I’m not going to say, ‘Make everything in America,’” he said.

Optimism for Jobs

Despite inflation concerns, some manufacturers are optimistic about the potential job creation that could result from expanded tariffs. Drew Greenblatt, president of Marlin Steel, a wire and sheet metal products manufacturer, believes that tariffs will bring manufacturing jobs back to the U.S. His company, which sources American steel, lost out on contracts due to lower-cost imports. “I’m going to start winning all those jobs,” Greenblatt said, predicting the need to double his staff if tariffs take effect.

A study by the Coalition for a Prosperous America suggests that a universal 10% tariff could create up to 2.8 million jobs. However, a 2020 report by the Brookings Institution found that the job gains in industries like steel were offset by losses in sectors dependent on imports or facing retaliatory tariffs.

Bayard Winthrop, CEO of American Giant, a U.S.-based apparel manufacturer, expressed support for a gradual approach to tariffs. While tariffs could boost his company, he cautioned that a sudden 20% tariff could be harmful to the economy. “The benefit is it will begin to put in place some industrial capability in the U.S. that I think is desperately needed,” Winthrop said.

Strategic Tariffs for National Security

Scott Paul, president of the Alliance for American Manufacturing, advocates for a strategic approach to tariffs, especially on Chinese products. He sees tariffs as an essential policy step to reduce the U.S.’s economic dependence on China, calling it a critical move for national security.

Source

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