REI Reports 13.5 percent Sales Growth over 2006

Feb 6, 2008 - Source: NewsObserver.com

Recreational Equipment, Inc. has reported 2007 sales of $1.3 billion, a 13.5 percent increase over the retailer's 2006 sales. The company also reported increases in comp store sales, operating income, net income, membership growth, and direct sales.

$62.7 million of the profits will be distributed between REI's co-op members through the annual patronage dividend. 3.4 million current REI co-op members will receive a refund on 10% of their 2007 purchases. REI will donate $3.7 million of its profits via grants to local and national nonprofit environmental and outdoor organizations.