REI shares more details about move from Alderwood mall

REI Co-op's plans to move out of the Alderwood mall are coming into focus.

The outdoor retailer confirmed in August that it would leave the mall after 20 years for a larger space at the nearby Alderwood Parkway shopping center, but did not provide other details at the time such as its timeline. The move is part of a broader effort to open five new stores in 2025, with more planned for 2026, REI announced last week.

“Cities that will have new stores represent communities that serve as a gateway to some of the country’s most incredible natural places and where our members currently live or destinations where they love to play outside," Mary-Farrell Tarbox, vice president of stores, said in a news release.

REI has more than 180 stores nationwide. The expansion comes as the Seattle-area-based company continues to face financial challenges amid slow sales. In 2023, the retailer, which operates without a physical headquarters but has satellite offices in Issaquah and Sumner, recorded $311 million in losses for 2023 — up from $164 million in 2022.

https://www.bizjournals.com/seattle/news/2024/10/23/rei-leaving-alderwood-mall-new-store.html