4:42 PM MT—Recreational Equipment, Inc. will open its first Kansas store this fall, in Overland Park, a suburb of Kansas City. The Overland Park store will be at the intersection of West 135th St. and Lamar Avenue at Prairiefire at Lionsgate. It will offer a bike shop with assembly and repair services, as well as a seasonal gear rental department for customers to test new outdoor activities. Similar to its other stores, REI Overland Park will sell top brands in camping, climbing, cycling, fitness, hiking, paddling and travel, including its own REI brand and Novara bike products. The 23,500
SEATTLE, WA (BRAIN)REI this week reported an 8.4 percent jump in annual sales for 2011, to $1.66 billion, but operating income was down slightly, to $116.2 million from 2010s record $116.6 million. Net income was flat compared with 2010 at $30.2 million. We experienced strong sales in 2011. However, because winter weather failed to arrive, our profitability was impacted, said Brian Unmacht, REIs executive vice president. Looking ahead, our underlying strong financial position allows us to continue our growth plans and invest in ways that make it easy for customers and members to shop REI however they wishonline, on
SEATTLE, WA (BRAIN)—REI on Thursday announced plans to open new stores in Ohio and Oregon next year, and relocate a store in North Carolina. The three new locations are in addition to three previously announced openings planned for next year, in Indiana, California and Virginia. The openings will bring the cooperative's retail locations to about 130 in 29 states. The new locations: Cincinnati, Ohio: REI’s first location in Ohio will be nearly 22,000 square feet and open next fall. Medford, Oregon: The Medford store will be about 23,500 square feet and open next fall in Alba Village. Cary,
Harry & David, the gourmet food-gift company, filed for bankruptcy protection after reaching an agreement with lenders to trim debt. The Medford, Ore.-based retailer, owned by investment funds controlled by Wasserstein & Co., listed assets and debt of as much as $500 million each in a Chapter 11 petition filed today in U.S. Bankruptcy Court in Wilmington, Delaware. Companies use Chapter 11 of the bankruptcy code to reorganize, cut debt and continue operating.