Showing losses and dropping execs, REI could use a cold winter

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

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Oct 6, 2024 · After a poor financial showing last year in which it lost $311 million, REI has one big goal this year: break even. Showing losses and dropping execs, REI could use a cold winter | …

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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.

seattletimes.com

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Why REI Really Needs A Cold Winter - AllSides

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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 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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FAQs about Showing losses and dropping execs, REI could use a cold winter Coupon?

Does Rei have a big goal this year?

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, according to an Aug. 24 internal memo from CEO Eric Artz obtained by The Seattle Times. ...

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. ...

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 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. ...

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. ...

How many jobs were cut at REI in 2023?

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. Altogether the cuts represented a little over 5% of REI’s workforce, and while many of them were at the corporate level, store workers still felt the pain; many saw their hours reduced. ...