The phrase is not "memo-driven" but "member-driven." REI is owned by its members, so its policies are "driven" or guided by the members. Here, it is saying that the members don't want to be open, so they won't be open. A "member-driven" decision.

I found a copy of what you read here http://www.cnn.com/TRANSCRIPTS/1510/28/sn.01.html Based on context, "memo-driven" is used to show it is not a publicly traded company with stocks and share holders. It's showing the contrast between company types. REI is a smaller company that can close on a big holiday but a bigger store cannot afford to close, there are too many investors who will be unhappy if their stock price falls to give people 2 days off.

Thanks for your reply. It's from CNN Student News http://edition.cnn.com/2015/10/27/studentnews/sn-content-weds/index.html at 7'20''

Hi, can you please check the source? seems like it would make more sense as "not a memo-driven"