REI to close three Northeast stores in 2026 as it adapts to shifting markets and customer needs: rep

Outdoor retailer Recreational Equipment, Inc. (REI) reportedly plans to close three of its U.S. stores next year.
The closures will affect REI locations across the Northeast, including Paramus, New Jersey, during the first three months of 2026, as well as in Boston and its flagship SoHo locaftion in New York City toward the end of that year, USA Today reported.
"We are deeply grateful to our teams, our members and customers, and the stores' communities for their support over the years," REI said in a statement to USA TODAY. "As markets and customer needs evolve, we must adapt to position the co-op for long-term success. We will continue serving members and customers at these locations until closing, and at our other stores across the New York and Boston regions."
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Despite the upcoming closures, the retailer has continued to expand in other areas. REI has opened six new stores this year, including in Durango, Colorado; Elk Grove, California; and Amherst, New York, according to the REI website.
The announcement comes as another longtime outdoor retailer, the Orvis Company, recently announced plans to close more than two dozen stores by 2026 as part of a broader effort to shrink its retail footprint and streamline operations in response to rising tariffs.
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Orvis President Simon Perkins said in a statement that 31 stores and five outlets will shutter as the company enters a "new chapter" aimed at a "more focused retail store portfolio" and leveraging its retail partners that sell its products.
Last year, REI laid off 357 employees, according to a message shared with employees at the time by former CEO Eric Artz, who retired in March.
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"Outdoor specialty retail has experienced four quarters of decline-and that trend has been worsening," Artz said in January of last year. "While we were able to outperform this trend for much of the last year, it caught up to us in Q4 and we now expect conditions to remain very challenging throughout 2024."
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REI did not immediately respond to FOX Business' request for comment.
FOX Business' Daniella Genovese contributed to this report.


via: https://www.foxbusiness.com/retail/rei-close-three-northeast-stores-2026-adapts-shifting-markets-customer-needs-report