REI reported record annual revenues of $2.2 billion last year, a 9.9 percent increase from 2013. In turn, REI is directing $168 million to its 5.5 million active members through annual dividends, and the co-op will invest nearly $8 million in non-profits and new community projects, according to the REI sources.
In 2014, 945,000 new members joined the co-op, taking active membership to a high of 5.5 million.
The co-op reported that comparable store sales, which include direct to consumer sales, increased by 4.2 percent. 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. This spring, REI opened in Alpharetta, Georgia and Princeton, New Jersey, and relocated its Dallas store.
