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Many happy returns for REI members


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.

REI reported same-store sales growth, including direct-to-consumer sales, of 4.2%. REI Adventures grew 19.4% in 2014, while REI Outdoor School grew by 28% in 2014 through in-store classes, field programs and day outings.

In addition, in fall 2014, the “REI Co-op” brand was introduced, exclusive to REI. The first products were lightweight down jackets and vests at affordable prices. Sales exceeded $1 million in less than 20 days. Later this year, REI will introduce a deeper collection of “REI Co-op” products that celebrate the company’s history.

Seven stores opened in 2014, including Fairbanks, Alaska; Flagstaff, Arizona; Knoxville, Tennessee; Salem-Keizer, Oregon; Southlake, Texas and two stores in Columbus, Ohio. As of year-end 2014, REI operated 138 stores in 33 states. In spring 2015, REI has opened in Alpharetta, Georgia and Princeton, New Jersey, and relocated its Dallas store.

“Joining REI has transformed my view of business. We aim for steady growth so that we can invest in the outdoors,” said Jerry Stritzke, REI’s president and CEO. “That’s a powerful formula that encourages us to think and act long-term. I love being part of the co-op because success for us means giving back to the outdoor community and helping people live life outside.”

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