Outdoor retailer REI reports record numbers in 2018
SEATTLE — Washington-based outdoor retailer Recreational Equipment Inc. posted record numbers for 2018.
REI posted $2.78 billion in sales, $47.1 million in net income, and $204 million in member dividends and other rewards (up 6%, 54% and 4%, respectively).
The company also added more than a million new members last year, for a total of 18.3 million.
REI Interim President and CEO Eric Artz says the company is off to a good start in 2019 despite its president resigning in February after failing to disclose what the company called a “personal and consensual relationship” with the head of “another organization in the outdoor industry.”
Artz had been chief operating officer before being appointed as interim CEO.