REI performed exceptionally well in 2006 thanks to your patronage, and we are pleased to be able to share our success with you through your dividend. Collectively our co-op is returning $58 million to more than 3 million REI members. I hope each of you will be inspired to use your dividend for some wonderful outdoor adventures.
Our commitment to sharing with our communities has never been stronger. This year we will give back more than $3.5 million in grants to help people, especially youth, enjoy the outdoors, support conservation and encourage stewardship. Through our local store grants program alone, the work of more than 300 organizations will be supported, with donations of money and gear, and through hundreds of thousands of hours of volunteer service by REI members and employees. While we are very proud of these efforts, we know more must be done to ensure that the co-op and the outdoors are accessible and welcoming to an even broader community of REI members.
REI has a rich history of giving back, but we are also thinking hard about the future and our impact on the planet. In 2006, we made green power purchases to neutralize 30% of the carbon emissions from our electrical power usage, we created a policy that requires sustainability in the paper goods we buy, and we've begun to close the waste loop at retail stores through a nationwide recycling program. Our adventure travel company, REI Adventures, is also offering carbon neutral travel for 2007 departures using green tags to offset emissions. There is much more to do such as reducing packaging, improving transportation and energy efficiency, developing more eco-effective products, and continuing our significant green building efforts.
Even as we share our success, careful financial management allows us to invest in new retail stores, exciting new REI gear and apparel products, a new distribution center to improve service to members, and the supporting infrastructure necessary to serve you and your outdoor needs.
In a time when too many people are overscheduled and sedentary, we know the outdoors offers the way to a better, healthier life. We look forward to sharing this gift with you in the year ahead by helping you get active and outdoors.
Sincerely,
Sally Jewell
President and CEO
