Chairman's Message

The Long View

Message from the chair, Board of Directors

One of the greatest strengths of being a co-op is the ability to take the long view. While so many companies are required to think quarter to quarter and even day to day, your co-op is able to focus broadly on our organization's unique purpose of facilitating our members' enjoyment of the outdoors. We have the ability to balance profits with investments in the business, and truly ensure that members are well served.

This approach has served your co-op well through the numerous economic ups and downs of the past 70 years. In the current economy, this ability has never been more important. Your board of directors is confident that the co-op will continue to successfully navigate these difficult times and emerge stronger than before. Our business is sound, our financial position solid and our membership growing. Your devotion to an active outdoor lifestyle will help all of us weather this storm. If any retailer is positioned to be successful today, I believe it is REI.

Taking the long view requires the board to thoughtfully oversee the co-op's business performance and deliver overall member value while achieving these objectives in an environmentally and socially responsible manner. This means providing all that you've come to expect from REI—great outdoor products; quality service; and a fun, welcoming and informative retail and online shopping experience. But we know it means something more. Your board understands that the co-op also must use its strength as a business to support outdoor stewardship nationally and in our local communities, find ways for more people to engage in outdoor activities, and continue to be a leader in advocating on behalf of our public lands.

The board appreciates the performance of your co-op in 2008 given the unprecedented nature of the global economy. While the year was not without challenges, REI continued to show strength in the face of extraordinary uncertainty. On behalf of your board, thank you for your continued patronage and trust. We look forward to serving you in 2009 and for many years to come.

Anne V. Farrell
Chair, Board of Directors

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