REI Announces New Strategic Plan

REI Co-op CEO Mary Beth Laughton shared a three-year strategic plan with employees, saying the company will have to make difficult decisions to grow sales and build customer trust.

Laughton noted that implementing the plan will require “tough choices.” Called “Peak 28: Ascending Together”, the strategic plan outlines company goals.

Build trust by showing up for our customers consistently through the products, experiences and service REI provides.

Stay competitive, raise our own bar and challenge ourselves to be not just the best co-op, but also the best retailer.

Build emotional connections and loyalty with people who love the outdoors while serving beginners to experts.

In May, REI announced a million new members joined in 2024, with its total now more than 25 million.

Net sales for 2024 declined 6.2% year-over-year as Laughton acknowledged a challenging marketplace. Net sales for the year were reported at $3.53 billion, compared with $3.76 billion in 2023. Net loss for the year was $156.4 million, compared with $214.6 million in 2023.