mec losing money

MEC revealed they are losing a ton of money and people aren't surprised

Mountain Equipment Co-op, Canada's largest outdoor gear retailer, has been losing a lot of money in light of slow sales, inventory backups, supply chain problems and ever-increasing online competition.

The outdoor recreation gear and clothing retailer lost $11.487 million last year on sales of $462 million, according to financial statements audited by KPMG and posted on MEC's website.

MEC CEO Philippe Arrata told CBC News in a statement that an increase in competition hasn't helped them.

"The sales growth hasn't materialized, as we've seen increased competition by traditional big-box players and emerging e-commerce players," Arrata said in the statement to CBC about the recreation equipment giant's financial challenges.

MEC started out in Vancouver in 1971, and has since expanded to 20 different cities across Canada. It refers to itself as Canada's largest supplier of outdoor clothing and recreation gear and has a reputation for a commitment to environmental protection.

The news of their financial loss hasn't really come as a surprise to a lot of Canadians.

Most people are saying that the brand has become way too expensive, and even still their quality is suffering. 

Others took to Twitter to comment on how the co-op's values have changed, suggesting that's why business is failing.

Others think that the company's time has come and gone, and you're better off searching for their products at the thrift store.

But not all comments about the news were negative. Some are hoping MEC's business can still be saved. 

Hopefully the retailer is able to turn things around for it's too late.

Lead photo by

Hector Vasquez

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