REI reports another year of losses, pledges efficiency and new …

Apr 30, 2024 · REI reported $311 million in losses in 2023. The drop follows a turbulent year that included layoffs and operations restructuring. Now it plans to open more stores.

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REI Reports Another Year Of Losses, Pledges Efficiency And New …

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Apr 30, 2024 · REI reported $311 million in losses in 2023. The drop follows a turbulent year that included layoffs and operations restructuring. Now it plans to open more stores.

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REI Records Steeper Losses After Year Of 'challenges And Growth'

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May 1, 2024 · For a second year in a row, REI Co-op has operated at a loss. The Seattle-area-based outdoor retailer reported Tuesday that it had more than $311 million in operating losses …

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REI Posts $3.76 Billion In Revenue In 2023, But Loses $311 Million Net

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May 2, 2024 · US specialty outdoor retailer REI Co-op released its impact report and financial results for 2023 on April 30. The year closed with $3.76 billion in net sales and nearly $270 …

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Showing Losses And Dropping Execs, REI Could Use A Cold Winter

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Oct 2, 2024 · After a poor financial showing last year in which it lost $311 million, REI has one big goal this year: break even. The Issaquah-based co-op was faring well halfway through 2024, …

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REI Has Hemorrhaged Money For Two Years In A Row. Now …

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Aug 19, 2024 · REI bled money last year, losing $311 million, its second year of losses in a row. Sales, meanwhile, slipped 2.4% to $3.76 billion, hurt by a shrinking outdoors-gear market and …

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REI Releases 2022 Impact Report And Financials, Distributes ... - REI …

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REI today released its 2022 Impact Report and financials results, closing the year with a record $3.85 billion in sales. The co-op ended the year with a strong liquidity and working capital …

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REI Co-op Releases 2023 Impact Report And Financials, Reporting …

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Apr 30, 2024 · REI Co-op today released its 2023 Impact Report and financial results, closing the year with $3.76 billion in net sales and nearly $270 million invested back into the co-op …

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FAQs about REI reports another year of losses, pledges efficiency and new … Coupon?

Does REI Co-op have losses?

For a second year in a row, REI Co-op operated at a loss of over $311 million in 2023. This is an increase from the $164 million in operating losses reported in 2022. ...

Why did Rei lose $311 million in 2023?

REI said Tuesday it lost $311 million in 2023 — a tumultuous year that included layoffs and operations restructuring at the Seattle-founded outdoor equipment retailer. Revenues were $3.76 billion in 2023, down 2.4% from the previous year. ...

How much money did REI Co-op make in 2023?

SEATTLE, April 30, 2024 /PRNewswire/ -- REI Co-op today released its 2023 Impact Report and financial results, closing the year with $3.76 billion in net sales and nearly $270 million invested back into the co-op community. ...

Why did Rei lose $1.5 billion in revenue in the last 18 weeks?

But revenue has been softening over the past few months and REI has to deliver more than $1.5 billion in revenue over the final 18 weeks of the year, the memo said. REI’s problems stem from a broad sales slump in the retail industry, bloated executive ranks and a warmer winter last year that plagued the outdoor apparel industry. ...

What was the result of REI's financials?

REI reported deeply disappointing financial results in a note to employees, according to its CEO, Eric Artz. This comes after years of store closures in major outdoor enthusiast-friendly cities such as Portland and Santa Monica. ...

Why did Rei lose a job in 2022?

Part of the problem: A boom in outdoor-gear sales, itself fueled by the pandemic, began to dissipate in 2022, and REI struggled to adjust. Its first big layoff round came in early 2023 with 167 job cuts, followed by 275 later that year, and then 357 job reductions announced in January this year. ...