REI to close its Stockton store
Due to it high quality gears, equipment and gadgets. The company is scheduled to close the Stockton store in the coming year of 2018. The news was revealed by a property manager where the store is housed.
The exact date when the store will close is not clearly known. But, reliable sources indicate the store will remain open till the New Year. Tricia Wilkalis revealed. She is a property manager at stone brother’s management recreational equipment Inc. Tricia has served as an anchor tenant since early 2008.
The property management team was disappointed by the move. REI has been a great tenant to them. But, they had nothing to do because it was a decision which was made by their client. The company is thought to experience a lot of corporate restructuring as well as movements.
Wilkalis revealed that her property company is in active discussions with other potential tenants who can replace the REI. When she was asked to reveal the identity of the potential tenants, she was reluctant to reveal their identity.
Efforts to get comments from REI did not produce fruits because a spokesman from the company denied commenting on the issue.
The store occupies about 23,000 square foot. It was opened in April 2008 to a line of many shoppers who were eager to do shopping. During its launch, the store had 55 employees.
Some of the products the store sells include climbing, camping, cycling, hiking, paddling and skiing equipment. They have regularly hosted community events as well as meetings focused on getting the most when it comes to outdoor experiences. Their community
events explore different ways people can relax when outdoors.
In last year’s financial year, the company recorded revenue of more than $2.5 billion. Though, the CEO and the president Jerry Stritzke acknowledged that the retail landscape proved challenging to them. In last spring, the Seattle based company had opened
147 stores in over 36 states. The stores were four more when compared to those it had the previous year. Some of the new locations where the company plans to open new stores include states located towards the east such as Florida, New York, Tennessee and Connecticut.
According to Wilkalis, REI has been upfront in their plans to close the store located at Stockton. They were eager to let the owners place it on the market. Before they close, the stone creek village will offer a wide range of stores such as restaurants where people can shop and eat.