US speciality outdoor retailer REI Co-op has reached a significant environmental milestone by successfully diverting 90% of its waste from landfills throughout its entire operational framework in 2024.
This zero waste milestone was highlighted in the organisation's 2024 Impact Report alongside its financial outcomes.
The consumer co-op also managed to cut its emissions by 7% compared to the previous year and by 12% from its baseline year of 2019.
Additionally, REI Co-op met its objective to obtain The Climate Change Project's Climate Label certification, underscoring its pledge to not only lower emissions but also to support and advocate for broad scale decarbonisation solutions.
REI Co-op climate director Andrew Dempsey said: “It was an enterprise effort to achieve this zero-waste milestone for the co-op. But it would not have happened without the dedication of employees across all of our operations to reduce and recycle waste at every level.”
In 2024, REI Co-op reported a decline in revenue to $3.53bn, representing a 6.2% decrease from the previous year.
However, it saw an increase in gross margin to 40.4%, up by 1.7% from 2023.
The co-op faced a net loss of $156.4m for the year, primarily due to substantial investments back into its community through member rewards, societal contributions, and employee incentives.
Over the year, the company allocated $84.8m towards incentives and profit-sharing, a notable rise of 48.5% from 2023.
The company welcomed more than a million new members, with $189m distributed through Co-op Member Rewards.
In addition to financial rewards for its members and workforce, REI Co-op contributed $8.9m to more than 300 non-profit partners dedicated to enhancing outdoor accessibility and inclusivity.
REI Co-op president and CEO Mary Beth Laughton said: “The last few years have been challenging, not just for REI but for the greater outdoor industry.
“The co-op is a special place made up of 14,000 passionate employees and 25 million members united by a shared sense of purpose. It’s this community, and the incredible work it does in support of our public lands and the inclusive future we seek to build that first drew me to REI.”
In October last year, REI Co-op unveiled its plans to open new store in six US cities in early and mid-2025.
