REI

Outdoor retailer REI is setting up shop in a fast-growing gym niche.   REI and Momentum TM Indoor Climbing are launching REI Co-op Climb, which will serve as a hub for climbing gear, programming and events at each of Momentum’s new climbing gyms. Expert instructors from REI’s Outdoor School will help Momentum members and guests gain skills and confidence through gym to crag classes.   

Seattle – Outdoor retail co-op REI is being very “cooperative” in returning $168 million to its members. In 2014, 945,000 new members joined the co-op, taking active membership to a high of 5.5 million.

For the year, REI reported record annual revenues of $2.2 billion, a 10% increase from 2013. When the co-op performs well, active members receive an annual 10% dividend, based on their eligible annual purchases.

Outdoor retailer REI reached new heights in 2014 thanks to unprecedented membership growth which fueled a 4.2% same store sales increase and a record financial performance.

The same store sales increased and addition of seven new stores helped the company increase total sales 9.9% to $2.2 billion. The company ended the year with 5.5 million active members, 945,000 of whom joined the retail cooperative in 2014.