REI Will Close Stores on Black Friday
Some shoppers live for Black Friday deals, especially when it comes to stocking up on discounted gear for Winter activities. If you have your eyes set on a pair of skis or snowboarding pants, however, don't even think about buying them at REI. The outdoor equipment company announced that it will be closing down all of its 149 stores on Black Friday but will still pay all 12,287 full- and part-time employees. This year, it's also closing on Thanksgiving. The move comes as a second annual installment of the company's #OptOutside initiative, which encourages everyone to spend the day outdoors instead of duking it out for products in stores.
"This year, REI will shut down on both Thanksgiving and Black Friday because fundamentally we believe that being outside makes us our best selves – healthier and happier, physically and mentally," Jerry Stritzke, the president and CEO, said. "I love that there is a community of people in this country who dedicate their lives to that mission, so together, we are asking America 'Will you go out with us?'"
While the stores will be closed, you'll still be able to place orders on REI's website, although the company will try to divert buyers with a cover screen to encourage them to spend the day outdoors. And while most retailers are tracking their profits from Black Friday sales, the CEO said he's not worried about REI losing much money on this day. The company, unlike most, doesn't have shareholders and is a "consumer co-op", meaning REI has member customers who pay a one-time fee and get back an annual dividend.
The focus, Jerry added, is to bring in new, passionate members rather than compete for holiday bargain hunters.
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