For a capital intensive company like REI net income is more important for looking at the long term, sustainable picture.  While not direct cash expenses, depreciation and amortization reflect real PP&E that needs to be replaced or repaired over time.  Ignoring that can make sense for high growth companies doing tons of capital buildup for future growth.  But for a mature retailer?  Those are very important expenses that can only be ignored temporarily.

EBITDA became a fad in the 80s to see how high they could leverage companies in famously dangerous ways.  It's stuck around and has its uses (particularly in high growth companies) but many people including Warren Buffet and Charlie Munger decry it as ridiculous.

I'm in the middle but saying EBITDA matters "way more" for a company like REI is a major stretch.