"After thoughtful consideration, we have made the difficult decision to close our Paramus, N.J. store in Q1 2026 and Boston, MA and SoHo, NYC, stores in late 2026,"
"We are deeply grateful to our teams, our members and customers, and the stores' communities for their support over the years. 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."
REI will close its only New York City SoHo flagship in the Puck Building, a 35,000-square-foot store, by late 2026 and will also close its Paramus, N.J., store in Q1 2026 and its Boston, Mass., store in late 2026. The SoHo location unionized in 2022 and is among 11 of 195 REI stores with unions. The SoHo store opened in 2011 and underwent a major restoration by architecture firm Callison. OpenAI plans to lease 90,000 square feet in the Puck Building. REI reported revenue declines in 2023 and 2024 and introduced CEO Mary Beth Laughton’s "Peak 28: Ascending Together" strategic plan.
Read at The Mirror US
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