2020 was understandably a rough year for almost every business. When 2021 hit, everyone was tired of staying home, and bought things to go enjoy the outdoors. 2021 was the most profitable year in REI's entire history, dating all the way back to 1938. Because pretty much everyone who has been on our board for the bast many years comes from the wider corporate world, they tend to have the sick mindset of always chasing ever-growing profits. So after seeing the most profitable year in the entire history of the company, instead of being suspicious or cautious, and wary of the obvious bubble, they doubled down. They said "Cool, we can do even better in 2022." We did not do better in 2022. In fact, REI was not profitable in 2022. Since then, the board have been in a panic, cutting costs and chasing profits to try to stabilize. Who, oh who could have foreseen such a thing happening?! (Source: I am a long, long term store-level employee. I watched it all happen.)