Strong sales allowed REI to make record impact
16/04/2018
It described last year, in which it achieved record sales of $2.62 billion, as a “landmark year” in its history.
Its strong sales performance allowed it to invest $8.8 million into more than 1,000 outdoor places, return $196.3 million to members through dividends and credit card rebates, and give $56.5 million to employees through profit-sharing and retirement.
Among the highlights it pointed to for 2017 were its efforts to fight for the preservation of US public lands, its launch of a programme to promote gender equality in the outdoors, and its work to inspire Americans to spend Black Friday, now a major shopping day in the US, outside with their families. It also sourced 100% renewable power for all its operations.
It added nearly one million new members last year, bringing its total to 17 million.
REI CEO, Jerry Stritzke, said: “REI has always chosen the uncommon path. As we think about the co-op’s next 80 years, we will do more of the same, inspired by our unchanging belief that a life outdoors is a life well lived.”
Image shows the inside of REI's flagship store in Seattle (credit: REI).
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