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Strong sales allowed REI to make record impact

Outdoor retail co-operative and product manufacturer REI has announced that it invested nearly 70% of its profits into outdoor communities in 2017.

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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