For the FY ended Dec. 31, REI net income grew 29% to$32,726,000 from $25,315,000 as sales expanded 15% to $1,022,326,000 from$887,809,000. Comparable store sales increased 9.6% as direct sales gainednearly 21%, fueled by growth from REI.com and REI-OUTLET.com. Annual operatingincome was 19% higher at $85,966,000. Retained earnings were up 16% to $236.5million. In recognition of reaching the $1 billion milestone, REI will donate$1 million to 100 community U.S. parks in addition to $3 million in previouslyannounced grants for outdoor recreation and conservation causes.

REI, which saw its active membership grow nearly 10%in 2005, will return more than $50 million to its ... Log in to view full article.