REI to open on tribal land in Arizona; 2022 revenue at $3.85 billion
REI Co-op has added another location to its slate of 2023 store openings.
The specialty outdoor retailer will open a location in Prescott, Ariz., in the fall. The 25,000-sq.-ft. store will be leased from Yavapai-Prescott Indian Tribe and located on tribal land at Frontier Village Center. (The Yavapai-Prescott Indian Reservation consists of approximately 1,400 acres that are adjacent to the city of Prescott.)
The location will offer a wide assortment of apparel, gear and expertise for camping, cycling, running, fitness, hiking, paddling, climbing and more. It also will include a full-service bike shop will be staffed by certified mechanics.
REI currently operates four stores in Arizona, with locations in Flagstaff, Paradise Valley, Chandler and Tucson.
Other new REI stores scheduled to open in 2023 include locations at University Town Center, Sarasota, Fla.; The Boardwalk of Marina del Re, Marina del Rey, Calif.; Market and Main, New Bedford, N.H.; Oakbrook Village, Laguna Hills, Calif., Huntington Shopping Center, Huntington, N.Y. In February, the retailer opened in Mount Pleasant, S.C., and Athens, Ga.
REI opened five new stores and expanded to one new state (Nebraska) in 2022. It closed out the year with a record $3.85 billion in revenue and 1.3 new million members, for a total 23 million lifetime members.
Also in 2022, the retailer said it invested a record $92.3 million in employee retirement and performance incentives and $6.9 million in more than 503 nonprofit partners, and distributed $223.7 million to members through its Co-op Member Reward.
It also made progress in its effort to fight the climate crisis. REI is on track to become the first national retailer to achieve zero waste by 2025.
To view, REI’s 2022 Impact Report, click here.
"We look forward to joining the Prescott community, a long-respected destination for mountain biking, bouldering, climbing, and hiking at nearby natural gems such as the national preserve, Prescott Circle Trail, Watson Lake, Watson Woods Riparian Preserve and more," said Kristen Engels, REI regional director. "Our team will also build lasting relationships with nonprofits to support efforts that protect natural places and connect people to the outdoors."
REI is committed to supporting the long-term health of the outdoors. Each year the co-op invests millions of dollars in non-profits to steward trails, waterways and parks and connect people to the outdoors. Over the last five years, REI’s Arizona non-profit partners received more than $520,000.