REI Co-op Closing Paramus Store, Along with Boston and New York Locations

By 2026, REI Co-op will shut its doors in three major cities. The outdoor retailer picked Paramus, Boston, and New York for closure, with the New Jersey shop set to close first in early 2026.

"We are deeply grateful to our teams, our members and customers, and the stores' communities for their support over the years," an REI spokesperson said, according to NJBIZ. "As markets and customer needs evolve, we must adapt to position the co-op for long-term success."

Money woes pushed the retailer to this point. Sales dropped 6.2% to $3.53 billion last year, following a 2.4% dip in 2023. The numbers tell a stark story.

Mary Beth Laughton, who cut her teeth at Nike before taking the CEO role, unveiled "Peak 28: Ascending Together." This three-year strategy aims to turn things around. "The last few years have been challenging, not just for REI but for the greater outdoor industry. And yet I remain hopeful," she stated.

While closing three shops, REI keeps a strong presence with 195 stores across the country. Princeton, East Hanover, and Marlton locations stay open, ready to serve customers. Other shops near New York and Boston will pick up the slack.

The Paramus spot next to Bergen Town Center sold for $25 million. Two firms, Russo Development LLC and KRE Group, will transform the space. Their plans? A mix of 426 living units plus retail spots.

Back in 1938, mountain climbers started REI. Now it stocks everything from tents to bikes, running shoes to travel gear. Their shelves hold what outdoor enthusiasts need for adventures big and small.

With 14,000 staff and 25 million members strong, REI's reach spans far. Laughton banks on this community as a key strength, pointing to their work in land conservation and making nature open to all.