Typically no. Here's an example from an earlier such coupon
" Offer not valid on bikes, hard-shell boats, stand up paddleboards, any item with GPS technology, personal locator
beacons, skis, ski boots or ski bindings; snowboards, snowboard boots or snowboard bindings."
They do have bike sales through the year, a trick is that the sale is advertised from a certain date but the bikes are marked down just before you can can buy before the main rush of bargain hunters. I bought an REI-brand Novara bike last year using that method, and laid down a decent 5000 of hard hill mileage and no problems.