The bottom line rebounded to net income of $97,661,000 from a loss of $34,035,000 in the pandemic year, as revenues jumped 36% to $3,739,259,000 from $2,754,714,000 helped by the booming enthusiasm for outdoor activities. The co-op resumed paying its customary member dividend, after pausing the program in 2020 in favor of a promotional award due to the lack of profits. For 2021, the total dividend award is $186.6 million, compared to last year’s $112.4 million promotional award. REI added a record 1.4 million new members in 2021, bringing the total to more than 21.5 million.

Gross margin was 47.0%, a 650 ... Log in to view full article.