New California Store for REI
Seattle-based retail cooperative REI (Recreational Equipment Inc.) will open a store at the Amador Plaza in Dublin, located 35 miles east of San Francisco, in fall 2011. The one-story, 24,000-square-foot store will feature a full line of equipment and apparel, as well as house a bike shop and a rental department where customers can rent new product. The company plans to hire 50 employees for the store. Although anyone can shop at REI stores, the company operates as a consumer cooperative. Members pay a one-time $20 fee, which entitles them to receive a share in the company’s profits through a refund program that is based on the member’s purchases. The company has more than 3.9 million active members and distributed more than $80 million in annual refunds based on 2009 sales.
