""After thoughtful consideration, we have made the difficult decision to close our SoHo store in late 2026," a REI spokesperson said in an official statement. "Since opening in 2011, this location has held a special place for us and we are grateful to our team, our members and customers, and the broader community for their support over the past 15 years." The 35,00-square-foot flagship-the company's only location across the five boroughs-first debuted inside the iconic Puck Building on Lafayette Street back in 2011 and New Yorkers immediately flooded the shop to stock up on their camping and ski gear."
"Considering that REI announced massive layoffs earlier this year, we can't say we're surprised about the news of the closing, which was announced alongside the shuttering of the brand's Boston location in late 2026 and Paramus, New Jersey, one in Q1. "Net sales for 2024 declined 6.2% year-over-year as CEO Mary Beth Laughton acknowledged a challenging marketplace," reports Bicycle Retailer. "Net sales for the year were reported at $3.53 billion, compared with $3.76 billion in 2023. Net loss for the year was $156.4 million, compared with $214.6 million in 2023.""
REI will close its SoHo location in late 2026. The store opened in 2011 inside the Puck Building and served as the retailer's 35,00-square-foot flagship and only location across the five boroughs. The closing announcement accompanies planned shutdowns of the Boston and Paramus, New Jersey locations. REI implemented massive layoffs earlier in the year. Net sales for 2024 declined 6.2% year-over-year to $3.53 billion, down from $3.76 billion in 2023. Net loss for 2024 was $156.4 million, improved from a $214.6 million loss in 2023. The store will remain open through late 2026.
Read at Time Out New York
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