Total reported revenues for the full fiscal year were $1.15 billion, compared with $1.19 billion in the prior year. Adjusted for the sale of Fannie May(1), year-over-year revenues increased 3.7 percent, primarily reflecting growth in the Company’s 1-800-Flowers and Harry & David brands. Gross profit margin for the year was 42.5 percent, compared with 43.6 percent in the prior year. Adjusted for the sale of Fannie May(1), gross profit margin in the prior year period was 43.9 percent. Operating expense as a percent of total revenues was 38.9 percent, compared with 39.7 percent in the prior year. Click Read More below for additional information.
REI Co-op is opening a new store in Gainesville, Florida in spring 2020, bringing Floridians a wide assortment of quality gear, experiences and expertise for the region’s most popular outdoor activities. The new 23,000-square-foot store will be located at the Butler Town Center at 3650 Southwest 32nd Court. With over 320,000 lifetime REI members in state, REI Gainesville will join existing stores in Jacksonville and Winter Park.
“Gainesville is an incredible outdoor community, with so many opportunities to paddle, cycle and camp,” said Gail Kirkland, REI regional director for the south. “We are excited to further connect our local members to the many nearby lakes and state parks. Whether through a new piece of gear, a rental or an outdoor program, we offer something for anyone who wants to get outside.”
REI Gainesville will offer a range of programs to connect people to a life outdoors. A national leader in outdoor experiences and education, last year, the co-op helped more than 350,000 people across the country get outside and be inspired to lead an active lifestyle through a wide range of classes, tours and events.
As a member-owned co-op, REI gave back more than 70% of its profits to the outdoor community last year through member dividends, employee retirement contributions and support for outdoor nonprofits. While anyone may shop at REI, members pay $20 for a lifetime membership and share in the company’s profits through an annual dividend.
In addition to offering quality gear, expertise and outdoor programs, REI actively works with nonprofits across the country to steward and maintain local trails and public lands and connect people to the outdoors. This year, REI is investing $140,000 in local outdoor nonprofits in Florida, which includes funds for the Florida Trail Association and the Southern Off-Road Bicycle Association. As REI gets closer to opening in Gainesville, the co-op plans to invest further in the local outdoor community.