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REI revenue hits all-time high in 2014

Published March 23, 2015

SEATTLE (BRAIN) – Outdoor retailer REI has reported record revenue of $2.2 billion dollars for 2014, up 9.9 percent from 2013. It also reported the highest ever dividend payout, returning $168 million to its 5.5 million active co-op members last year.

Member dividends represent 10 percent of the customer's eligible annual purchases.

"Joining REI has transformed my view of business. We aim for steady growth so that we can invest in the outdoors. That's a powerful formula that encourages us to think and act long-term," said Jerry Stritzke, REI's president and CEO. "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."

REI also reported that comparable store sales, including direct-to-consumer sales, were up 4.2 percent in 2014.

As part of REI's mission to give back to the outdoor community it will invest nearly $8 million in non-profits and various projects to create access to outdoor places.

"Our momentum reflects the appeal of life outdoors. We have focused hard on giving our members great gear and expertise," Stritzke said. "Our stores and digital business are doing well, demand for experiences and adventures is up and we are saying a big thank you by investing more in the work our non-profit partners do for our members and the outdoor community."

REI opened seven stores in 2014, including locations in Fairbanks, Alaska; Knoxville, Tenn.; Salem, Ore.; Southlake, Tex., and two stores in Columbus, Ohio. It operates 138 stores in 33 states, and has opened stores in Alpharetta, Ga., and Princeton, N.J. so far in 2015.

Topics associated with this article: Earnings/Financial Reports

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