Outdoor Voices is closing all its 16 retail stores on Sunday and transitioning to an exclusively online business, as revealed by internal communications and employee statements. This decision, which was unexpected by some staff, was shared via an internal Slack message, indicating a significant shift in the company’s retail strategy.
Read the full article in The New York Times.
Store employees were not offered severance; products were discounted by 50% in preparation for the closure. The company has faced internal challenges and a decline in valuation from $110 million in 2018 to $40 million in 2020, leading to changes in its executive leadership.
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