Iconic Outdoor Retailer Closing Multiple Stores – Texas Included?

Texas sportsmen know that in order to be successful in the outdoors there are certain things you have to do. Whether you're bird hunting in East Texas, duck hunting in the marshes of coastal Texas, or looking for a trophy buck in the Texas Hill country you have to able to move quickly and adapt quicker. The laws of nature still apply and apparently, those same laws apply to businesses that supply the needs of outdoor enthusiasts.

Through the years the sporting goods and sports apparel business has undergone some changes. Many well-known retailers have either been purchased or closed their doors altogether. You might remember a place called The Sports Authority. They were absorbed by Dick's Sporting Goods in 2016.

If you weren't aware the hunting, fishing, outdoors, equipment, and apparel business can be quite lucrative. It's estimated that about 40% of the 7.9 billion dollars spent each year in the industry goes toward equipment. The other 60% of the sporting goods pie is split between clothing and specialty clothing and equipment that many outdoors enthusiasts need, or want.

One of the most iconic brand names in outdoor clothing and apparel is Orvis Outdoors. The outdoor gear and apparel retailer announced earlier this week that it plans to shutter an undisclosed number of its 80 retail locations across the country.

In Texas, there are Orvis stores in Plano, Dallas, and The Woodlands as well as several other cities in the Lone Star State. Each of the stores sells fishing and hunting gear, and men's and women's outdoor clothing too. You can also find a selection of dog accessories, packs, bags, luggage, and home goods.

As of now, the retailer has not disclosed which of its locations will be closed or closing. Orvis operates 80 stores spread across the brand's U.S. footprint. The company has not announced a bankruptcy filing either. However, it was announced that Orvis would be discontinuing its historic retail catalog.

The company's planned changes will unfold over the next 18 months. It is expected that about 8% of the current workforce will be laid off. Those who are laid off will receive a generous compensation package and additional severance pay.