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Fortune
Fortune
Phil Wahba

With sales slumping and employers on edge, can REI get back on track?

Eric Artz, CEO of REI (Credit: Courtesy of REI)

Recreational Equipment Inc, the outdoor gear retailer better known as REI, began its annual meeting this May in pretty much the way you’d expect from a member-owned “co-op” famed for its progressive practices.

In the meeting, held virtually and open to all of the company’s 24 million members, an outgoing director touted REI’s record as a “values-based organization,” pointing to the company’s latest work to protect public lands, such as mobilizing customers to pressure the U.S. government to expand Joshua Tree National Park. Executives proudly noted that company carbon emissions had fallen 10% in 2023 compared to the prior year. (In years past, in-person meetings have included land acknowledgements, recognizing that speakers were standing on territory stolen from Native peoples.)

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