REI Co-op confirmed Tuesday that it will close three stores in 2026, including its high-profile store in the SoHo neighborhood of New York City, its Boston, Mass. location and its store in Paramus, New Jersey.
The Paramus location will close in the first quarter of 2026, according to an REI spokesperson. The SoHo and Boston stores will close in late 2026.
“We are deeply grateful to our teams, our members and customers, and the stores’ communities for their support over the years,” said a statement from the Seattle-based retailer. “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 SoHo Store Opened in 2011
REI’s 35,000 square-foot SoHo store, which opened in 2011 in the historic Puck Building, was its first location in New York City.
The Puck Building was the former home of Puck magazine and J. Ottman Lithographic Company, and REI worked with architecture and design firm Callison to combine elements from nature with the site’s historic features.
“As one of our most extensive restoration projects to date, REI SoHo provides a unique opportunity to blend our nearly 75-year history with the iconic legacy of the Puck Building,” said Tim Spangler, who served as the senior vice president of retail, at the time.
REI’s Transformation Strategy Underway
REI CEO Mary Beth Laughton, who took the helm of the retailer earlier this year, recently said the company would have to make some tough decisions over the next three years when she announced its transformation strategy, called Peak 28: Ascending Together.
‘We’ll have to make tough choices … to allow us to focus on the efforts that set us up to grow and thrive,” said the announcement.
Laughton has previously acknowledged the difficulties the co-op is facing. REI reported a 6% revenue decline in 2024 to $3.53 billion, though its net loss narrowed to $156 million from $311 million in the prior year.
The company has implemented multiple rounds of layoffs in recent years and shuttered its Experiences travel business in early 2025.
Kate Robertson can be reached at kate@shop-eat-surf-outdoor.com.
