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RECREATIONAL EQUIPMENT, INC. 1992 SALES TOP $311 MILLION

 SEATTLE, Feb. 19 /PRNewswire/ -- Recreational Equipment, Inc. (REI), a national outdoor gear and clothing specialty retailer, reported a 20-percent 1992 sales increase to $311.6 million, up from the previous year's $258.7 million.
 Based on its 1992 sales, the company declared total patronage dividends of $18.6 million to 1,090,241 active REI members, up from 1991's $15.3 million to 980,200 members. REI, the nation's largest consumer cooperative, returns the majority of profits to its members in the form of patronage dividends. The 1992 patronage dividend is a 10.35-percent return on members' dividendable purchases.
 The company's pre-tax, pre-patronage dividend income rose 16 percent to $28.8 million, compared to 1991's $24.8 million. Net income increased 4 percent from $8.5 million in 1991, to $8.9 million in 1992. Both sales and profit figures include REI's retail and mail-order operations, and its manufacturing subsidiaries, THAW Corp. and Mountain Safety Research Inc. (MSR).
 According to company officials, REI's success was attributable to strong domestic and international sales in mail order, sales increases from existing REI stores, the contribution of four new retail locations, and greatly improved sales generated by three stores the Co-op moved to superior locations.
 REI relocated its Salt Lake City, Denver and Orange, Calif., stores to more convenient locations with increased retail space and improved designs. The cooperative opened new retail stores in 1992 in Cary, N.C.; Roseville, Minn.; Eugene, Ore.; and Westminster, Colo.
 "REI's performance in 1992 was exceptional in light of the generally weak national economy," said Wally Smith, REI president and chief executive officer. "It rates as one of our strongest overall annual performances and the best year of sales growth since 1982."
 REI's 1992 performance will allow the company to increase its ongoing commitment to protecting the outdoors for recreation with donations through its grants program of $519,368 in 1993, up from last year's $429,372. REI's 1993 contributions will bring its total giving to $3.2 million since the founding of the company's grants program in 1976.
 REI currently operates 34 retail stores nationwide, an international mail order system and an adventure travel company, REI Adventures. In the spring of 1993, REI plans to open new stores in Concord, Calif., and Farmers Branch, Texas.
 -0- 2/19/93
 /NOTE TO EDITORS: 1993 REI consolidated balance sheets and earnings statements are available./
 /CONTACT: Michael Collins, public relations administrator, of Recreational Equipment Inc., 206-395-5956/


CO: Recreational Equipment Inc. ST: Washington IN: REA SU:

SW-LM -- SE001 -- 8273 02/19/93 08:50 EST
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Publication:PR Newswire
Date:Feb 19, 1993
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