Workflow
Another sporting goods retail chain closing multiple stores
Yahoo Financeยท2025-10-11 16:11

Core Insights - The outdoor and sporting goods retail sector is facing significant challenges, with many companies closing stores or going out of business due to a combination of economic factors, shifts in consumer spending, and the impact of the Covid pandemic [1][2][5] Company-Specific Developments - REI, a leading outdoor retailer, is closing several flagship locations, including its only New York City store and a Boston location, as part of a strategy to adapt to changing market conditions [4][11] - Orvis plans to shut down 31 full-price stores and five outlet locations by early 2026, reducing its total from over 70 to 33 stores [6] - Bob's Stores has filed for Chapter 11 bankruptcy and is closing permanently after struggling to recover sales lost during the pandemic [2][6] - Moosejaw, acquired by Dick's Sporting Goods, has closed all remaining stores and its website by August 2024 [6] - Next Adventure, a Portland-based retailer, will shut down all locations by late 2025 due to economic challenges [6] Market Trends - The overall outdoor retail market has slowed, with total sales down 3% to $27.5 billion, affecting all retail channels [9][11] - Independent Outdoor Specialty Retailers have experienced significant declines, with at least half reporting double-digit decreases in sales [11] - Three of the four major product categories (Apparel, Footwear, Equipment) have contracted, while the Accessories category has seen growth [11]