Eric Artz News Today

Outdoor recreation cooperative, REI, has announced plummeting revenue for 2023. Meanwhile, consumers are tuning to one-stop shops like Cabela's and Bass Pro Shops for gear needs.

REI Co-op reported fiscal year sales of $3.8 billion, a 2.4% decrease from last year. However the compan has invested nearly $270 million back to the co-op community.

SEATTLE (BRAIN) — REI Co-op reported a net loss of $311 million in 2023 with yearly revenues declining 2.4% compared with the previous year.According to REI, the loss was because of a commitment to increasing hourly pay for employees, providing member rewards, and a $169 million non-cash valuation allowance against its deferred taxes.The non-cash valuation allowance is a

REI Co-op on Tuesday announced some broad financial results from 2023, including a widening loss and a dip in revenues.

Following a tumultuous year that included layoffs and operations restructuring, REI announced it lost $311 million in 2023.

The outdoor gear industry experienced boom years in 2021 and 2022, but is now facing post-pandemic turbulence

Grievances include the growth of erratic part-time hours and the co-op's sickness policy and health care plans

SEATTLE—Workers at REI Cooperative stores, some from as far away as New York, Chicago, and New Castleton, Ind., marched on company headquarters just outside Seattle on March 7, demanding the co-op bargain in good faith with them, and bringing their contract goals.

The U.S. economy is humming and there are hundreds of thousands of jobs being added every month. In a stunning burst of hiring to start the year, the nation added 353,000 jobs in January, shrugging off the highest interest rates in two decades that have been put in...

The U.S. economy is humming and there are hundreds of thousands of jobs being added every month