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REI to Close Three Stores Amid Financial Struggles

10/16/2025

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Summary

Story summary

Recreational Equipment, Inc. (REI) plans to close three stores in 2026 in Boston, MA; New York City; and Paramus, New Jersey.
The company reported a net loss of $156.4 million in 2024 and a 6.2% revenue decline in 2025.
REI opened six new stores in 2025 and launched a three-year strategic plan called Peak 28: Ascending Together.
The closures reflect broader struggles in the outdoor retail sector, including Orvis.

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Story summary

Recreational Equipment, Inc. (REI) plans to close three stores in 2026 in Boston, MA; New York City; and Paramus, New Jersey.
The company reported a net loss of $156.4 million in 2024 and a 6.2% revenue decline in 2025.
REI opened six new stores in 2025 and launched a three-year strategic plan called Peak 28: Ascending Together.
The closures reflect broader struggles in the outdoor retail sector, including Orvis.