REI continues to announce expansion plans

REI announced plans to open a store front in the open-air Derby Street Shoppes shopping mall off Route 3 in Hingham, Mass.
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REI announced plans to open a store front in the open-air Derby Street Shoppes shopping mall off Route 3 in Hingham, Mass. The store is scheduled for a fall 2003 opening. This will be REI's fourth store in the Massachusetts area. The 22,500-square-foot new construction store will employ 40 to 50 full- and part-time staff and is leased by S.R. Weiner and Associates Inc. Other tenants in the development, the first "lifestyle center" in Massachusetts, include natural food retailer Bread & Circus (dba Whole Foods outside of Massachusetts), Barnes & Noble, Williams-Sonoma and upscale clothiers including Talbot's, Ann Taylor and Coldwater Creek. SNEWS® View: In a challenging retail environment, REI continues to expand. The company's new Boulder, Colo., store is outstripping all of REI's performance expectations according to insider reports. Two new stores opening this fall in the Puget Sound region will bring REI's store total to 63. Of course, REI good fortune has resulted in the retailer donating in excess of $1 million for conservation, outdoor recreation and environmental stewardship programs.

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