All articles tagged with #outdoor retail
Originally Published 3 months ago — by TheStreet
Many outdoor and sporting goods retailers, including REI, are closing multiple stores due to market slowdown, economic challenges, and changing consumer habits, with notable closures in flagship locations and a decline in overall outdoor retail sales.
Originally Published 1 year ago — by KOMO News
REI is laying off 357 employees, primarily at its headquarters, as it anticipates a difficult year ahead in the outdoor specialty retail industry. The company's CEO, Eric Artz, stated that the layoffs are a response to major declines in the industry and the expectation of continued challenging conditions in 2024. The layoffs will also involve a reduction in the size of the senior leadership team by 22%. REI is adjusting its plans and cost structure to align with the anticipated decrease in revenue for 2024, and the company is focused on returning to profitability for long-term success.