Last Thursday Seattle-based outdoor retailer REI announced that industry veteran Eric Artz will join the company as chief financial officer. Eric Artz will be leaving his post at Urban Outfitters where he served as CFO since February of 2010. Prior to being a Urban Eric served as CFO for the VF Corporation. “REI is very fortunate to attract a CFO with Eric’s breadth and depth of experiences. In addition to his financial expertise, Eric has a deep understanding of multichannel retail, plus operations experience in supply chain, product development, sourcing and international. These skills, combined with his industry experience and passion for the outdoors, make him an exceptional addition to our team,” said Sally Jewell, REI president and CEO.
- About REI -
REI is a national retailer of gear and clothing for outdoor activities and adventure. A multichannel retailer, REI operates 123 stores in 30 states. The company recorded sales of more than $1.8 billion in 2011. In addition to national brands, REI exclusively sells private label gear and apparel under the REI name, and bicycles, apparel and accessories under the Novara brand. The company also operates REI Adventures, a full-service adventure travel company with destinations across the United States and around the world. REI is structured as a consumer cooperative and while anyone may shop at REI, only members receive a share of the company’s profits. This month REI is issuing a total patronage refund of $99.8 million to 4.7 million active members based on their eligible 2011 purchases. Earlier this year, REI was recognized as 8th on the FORTUNE magazine “100 Best Companies to Work For” list. This is the 15th consecutive year that REI has appeared in the ratings.