REI Co-op released its 2021 financials and annual impact report, ending the year with $3.7 billion in sales, an increase of 36 percent compared to 2020.

 In 2020, sales had declined to $2.75 billion, down 11.3 percent from $3.1 billion in 2019. The decline was due to shuttered stores during the early stages of the pandemic.

 REI also posted a net income of $97.7 million in 2021, rebounding from a loss of $34.5 million in 2020.

 2021 By The Numbers:  

  • $3.7 billion in revenue, a 36 percent increase year-over-year;
  • Net income of $97.7 million;
  • Invested $128.9 million in employee profit-sharing, retirement and performance incentives;
  • Distributed $234 million to members through co-op member rewards (100 percent patronage dividend, issued subsequently in 2022);
  • Distributed more than half of profits back to members, employees and nonprofit partners;
  • Added 1.4 million new members;
  • Investing $30 million in 300 business owners of who are scaling their businesses in the outdoor industry;
  • Invested $7.1 million in more than 450 nonprofit partners;
  • Launched the REI Cooperative Action Fund, which in its inaugural grantmaking invested over $1.4 million in 19 nonprofit partners;
  • Opened eight in seven states; and
  • Purchased over 257,000 metric tons of CO2eq to offset operational emissions fully.

“2021 was a historic year for the co-op,” said Eric Artz, REI president and CEO. “Our co-op team and partners rose to meet every challenge, from the ongoing pandemic to persistent supply chain disruptions, working together toward a common vision. Our members continued to turn to REI to help support the desire to spend more time outside. And their loyalty to our business enables us to continue investing in the communities we serve.”

REI also makes sustainable purchases more accessible through Re/Supply, allowing co-op members to trade in and purchase used gear. Buying used equipment instead of new avoiding carbon emissions of 50 percent or more. In 2021, REI reported revenue growth of 86 percent for its used gear business compared to 2020.

“We are working to create the largest marketplace for high-quality used outdoor gear and apparel,” said Ben Steele, Chief Customer Officer, REI Co-op. “We’re welcoming a future where used gear and rentals will make up a significant portion of the co-op’s business. We brought our member trade-in program to select stores in 2021 and are planning to have our trade-in service live in all our retail stores by midyear.”

 REI has 174 locations in 41 states and the District of Columbia. Full audited financials for 2021 are available here.