REI to Close Soho Store in New York City on July 23

REI will close its Soho store on July 23, according to a state Department of Labor filing reported by Crain’s New York. The location at Lafayette Street and Houston is the only REI store inside New York City limits. The closure will cut 72 jobs. ” The statement added that the store “has held a special place for us” since it opened in 2011.

The Soho location is one of 11 REI stores that have unionized in recent years. Last year, employees and supporters held a rally outside the store to protest what they described as union-busting and bad-faith bargaining. REI announced plans to close the store last fall. The company reported $3.53 billion in net sales for 2024, down from $3.85 billion in 2022.

January 2025, REI said it would lay off more than 400 employees and shut its entire “Experiences” division. The Soho closure is the latest step in that downsizing. The building’s leasing agent, Ripco Real Estate Vice Chairman Richard Skulnik, told Crain’s the space is listed at roughly $6.3 million in annual rent. He said multiple retailers have expressed interest in the full multilevel space.