REI, or Recreational Equipment, Inc., stands tall among Seattle’s signature hometown companies. Besides Starbucks coffee and Amazon’s virtual life, what is more Pacific Northwest than a co-operative that sells outdoor gear? Even as the all-for-one spirit has defined the store—down to the word “co-op” blazed on the climbing wall enclosure at the South Lake Union flagship—the company has emerged from the pandemic with subtle changes.
With the annual anniversary sale underway, many shoppers will also be co-op members, meaning they may have store credit to spend—what’s known as the REI dividend. For decades, company profits were partially allocated to shoppers who paid a one-time membership fee; they got 10 percent of qualified
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