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REI closing two lackluster locations. (Recreational Equipment Inc)
REI will close two struggling stores, marking the outdoor gear retailer's first closures in nearly three decades.
The Kent-based chain plans to shutter locations in Mission Viejo, Calif., and Orem, Utah, at the end of the year. After a three-year stretch of missed sales targets for both locations, REI decided to pull the plug.
The stores, situated in the Los Angeles area and south of Salt Lake City, were opened in 1995. REI aims to re-employ as many as possible of the 91 people who worked at the two outlets.
Wally Smith, president of REI, said the company's overall business is sound. He projected a 12 percent rise in revenues for 1998.
Joan Alvarez, …
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