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Outside retailer Leisure Gear, Inc. (REI) reportedly plans to shut three of its U.S. shops subsequent yr.
The closures will have an effect on REI areas throughout the Northeast, together with Paramus, New Jersey, in the course of the first three months of 2026, in addition to in Boston and its flagship SoHo locaftion in New York Metropolis towards the top of that yr, USA Right now reported.
“We’re deeply grateful to our groups, our members and prospects, and the shops’ communities for his or her assist over time,” REI mentioned in a press release to USA TODAY. “As markets and buyer wants evolve, we should adapt to place the co-op for long-term success. We’ll proceed serving members and prospects at these areas till closing, and at our different shops throughout the New York and Boston areas.”
OUTDOOR RETAILER REI SLASHES WORKFORCE BY MORE THAN 350 WORKERS, PREPARES FOR ‘CHALLENGING’ YEAR AHEAD
An REI retailer is pictured right here. The retailer reportedly plans to shutter three of its U.S. shops in 2026. (Don and Melinda Crawford/UCG/Common Photographs Group by way of Getty Photographs / Getty Photographs)
Regardless of the upcoming closures, the retailer has continued to increase in different areas. REI has opened six new shops this yr, together with in Durango, Colorado; Elk Grove, California; and Amherst, New York, in keeping with the REI web site.
The announcement comes as one other longtime outside retailer, the Orvis Firm, lately introduced plans to shut greater than two dozen shops by 2026 as a part of a broader effort to shrink its retail footprint and streamline operations in response to rising tariffs.
ICONIC 169-YEAR-OLD RETAILER TO SHUTTER 36 LOCATIONS
A buyer enters a Leisure Gear Inc. (REI) retailer within the SoHo neighborhood of New York, U.S., on Monday, Dec. 14, 2020. (Gabby Jones/Bloomberg by way of Getty Photographs / Getty Photographs)
Orvis President Simon Perkins mentioned in a press release that 31 shops and 5 shops will shutter as the corporate enters a “new chapter” geared toward a “extra targeted retail retailer portfolio” and leveraging its retail companions that promote its merchandise.
Final yr, REI laid off 357 staff, in keeping with a message shared with staff on the time by former CEO Eric Artz, who retired in March.
ROSS STORES THRIVES WITH MAJOR EXPANSION PLANS WHILE RETAIL GIANTS CLOSE LOCATIONS NATIONWIDE
A retailer closing signal exterior an Orvis retailer on Michigan Avenue in Chicago, Illinois, on Could 27, 2025 (Christopher Dilts/Bloomberg by way of Getty Photographs / Getty Photographs)
“Outside specialty retail has skilled 4 quarters of decline—and that pattern has been worsening,” Artz mentioned in January of final yr. “Whereas we had been in a position to outperform this pattern for a lot of the final yr, it caught as much as us in This autumn and we now count on circumstances to stay very difficult all through 2024.”
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REI didn’t instantly reply to FOX Enterprise’ request for remark.
FOX Enterprise’ Daniella Genovese contributed to this report.
