Why REI Is Closing Its Portland Store

Welcome back to FN Daily, where we break down the biggest stories happening in footwear and retail.

Today, REI confirmed it will close its downtown Portland, Ore., location in early 2024, the sporting goods industry is still in growth mode, and Allbirds continues to push sustainability.

Here's what you need to know.

REI Is the Latest Retailer to Close Its Portland Store Amid Rising Crime

After 20 years of business, REI confirmed it will close its downtown Portland, Ore., location in early 2024 amid increased crime in the store’s Pearl District neighborhood.

In a statement emailed to FN on Tuesday, an REI Co-op representative confirmed the closure and stated that the decision “does not reflect the hard work and dedication of our Portland team, nor the overall health of the co-op.”

“The safety of our employees, members and customers is always our number one priority,” the statement sent to FN said. “Last year, REI Portland had its highest number of break-ins and thefts in two decades, despite our actions and investment to provide extra security.

Sports and Fitness Industry Continues to Grow in 2022

While sales may have cooled from their pandemic-fueled fever, the sporting goods industry is still holding its own.

After jumping a record 15.8 percent in 2021, the industry still managed to post a 4.3 percent growth rate in 2022, the second-largest increase since 2010, wrote Tom Cove, president and CEO of the SFIA - Sports & Fitness Industry Association in the organization’s new 2023 State of the Industry report. The figures include sports, fitness, outdoor and active athletic apparel, footwear and equipment.

Cove attributed the uptick to the continued growth of physically active Americans, a number that grew for the fifth consecutive year, with 77.6 percent of all Americans taking part in one of the 124 sports and fitness activities the group tracks. This figure represents 15.3 million more people than pre-pandemic.

The Allbirds SuperLight Collection Is Made With Its Lowest-Carbon Foam to Date

Allbirds has once again pushed its own envelope on sustainability with its latest collection, which includes reimagined versions of well-known shoes and a new fitness-focused look. The three styles feature the brand’s lightest and lowest-carbon foam to date.

Its newest collection, titled SuperLight, features new iterations of its Tree Runner and Wool Runner shoes. It also will introduce the SuperLight Trainer to consumers.

Each shoe in the collection includes SuperLight Foam, a new material innovation from Allbirds. According to the brand, SuperLight is made with carbon-negative, sugarcane-derived Green EVA. This creates a midsole, Allbirds explained, that is roughly 70% bio-based.

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