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REI’s revenue up 9 percent in 2015; online sales up 23 percent

Published March 15, 2016

SEATTLE (BRAIN) — REI posted record revenues last year. The outdoor specialty retailer reported $2.4 billion in annual revenues in 2015, a 9.31 percent increase from $2.2 billion in 2014. Comparable store sales, which include direct to consumer sales, were up 7 percent, and online sales grew by nearly 23 percent, the company said Tuesday.

REI stocks and sells a variety of bike brands such as Accell North America’s Ghost and Diamondback, CSG’s Cannondale and Charge, Trek’s Electra, Yuba, as well as its house brand of Novara bikes, and a wide selection of P&A and softgoods from Giro, Bell, Bern, Nutcase, Pearl Izumi, Club Ride, Shimano, CamelBak, CatEye, and many others.

The co-op, which employs more than 12,000, also said more than 1 million new members joined its ranks last year. As a co-op, more than 72 percent of REI’s profits from 2015 will go back to members, employees and nonprofit partners. A record $185.3 million will be shared with more than 6 million REI members through annual dividends and credit card rebates.

Jerry Stritzke, REI president and CEO, said, “The health of the co-op is closely linked with the health of the outdoors. We have made good progress this year, but there is much more to do. Stewardship is a mindset that helps us to imagine the positive, lasting impact we can have together. It helps us look to the future and to think about our legacy.”

In 2015, REI invested more than $8.5 million into nonprofits, including large grants for the National Parks’ centennial and to increase women’s leadership in the outdoor industry, both of which are priorities for the co-op.

In its 2015 Stewardship Report, REI noted that it has bicycle service centers staffed with 196 master technicians in 142 of its 143 stores. “In our bike shops last year, over 180,000 cyclists got their bikes tuned up, repaired or overhauled, and ready for the road or trail,” the report said.

To download the full report, go here.

Topics associated with this article: Earnings/Financial Reports

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