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REI aims to connect more people with the great outdoors

11/04/2019
Outdoor retail co-operative and product manufacturer REI achieved sales of $2.78 billion in 2018, an increase of 6% year-on-year, but its CEO has said the company must do more to make the outdoor industry accessible to more people.

Thanks to this record revenue, the organisation was able to invest $8.4 million into 431 non-profits, return $204 million to its members through dividends and credit card rewards, and give $77 million to employees through profit-sharing and retirement. 

This is not enough for REI interim president and CEO Eric Artz, though. In an annual letter to its members, he said his company and the wider outdoor community needs to do more to drive sustainability in the industry and to help more people get outside.

He said in the letter: “Today’s results show that doing good is good business. We have a strong foundation, but we must do more. As a community, we must confront the serious problems facing society. Most of the US population is disconnected from nature, spending more time inside than outdoors. We need to reverse that trend. Spending time outside isn’t only good for people’s health. It connects people to something bigger – a desire to fight for the future of life outside.”

In 2019, the company intends to make the outdoors more accessible and sustainable by expanding its gear rental programme and investing in gear trade-in options. New rental options for this year will include snowshoes, skis, snowboards and fully-equipped camping and backpacking kits. 

REI now has over 18 million members, having had more than one million new ones in 2018. 

Related stories:

REI hires Michelle Cutter for newly-created VP role 13/12/2019
REI looks to within for new chief executive 10/05/2019
REI encourages exploration on water 16/04/2019
Used gear an important part of REI’s business 16/10/2018
REI says new appointments will help more people connect to the outdoors 28/09/2018
REI expands online gear resale platform 23/08/2018
REI continues its support for National Scenic Trails 17/08/2018
Strong sales allowed REI to make record impact 16/04/2018
Behind-the-scenes work pays off as REI launches new standards 11/04/2018

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