7-Eleven owner postpones its IPO

• Higher gas prices are cutting down on fuel consumption, which also depresses walk-in retail business.
• Moreover, persistent inflation is hammering at direct retail traffic, as consumers seek out discounted food and sundries.
• And that doesn't even account for an IPO market that was sluggish even before the Iran war.

Zoom out: The delay is a big setback for turnaround plans at Seven & i, which were put in place last year after the collapse of both a management buyout bid and $46 billion takeover talks with Circle K owner Alimentation Couche-Tard.

Go deeper, via the FT: "Seven & i shares are trading below the level prior to Couche-Tard walking away, as shareholders remain unconvinced that the standalone strategy is paying off and the retail environment sours."