LL Bean pleased with 2018 performance, awards bonuses
Posted March 15, 2019 8:12 am.
This article is more than 5 years old.
FREEPORT, Maine — L.L. Bean says sales edged upward over the past year and that’s enough to restore bonuses for its 5,400 eligible workers.
The Maine-based company said Friday that revenue grew by 1 per cent in a changing and challenging retail environment.
The board awarded performance bonuses of 5 per cent for workers. Last year, there were no bonuses for the first time in a decade.
L.L. Bean is coming off several years of flat sales and belt-tightening that included a reduction in workforce, changes in its generous return policy, and a paring of product lines to refocus on the company’s outdoors roots.
The company announced last year that it plans to open L.L. Bean-branded stores in Canada as part of its strategy to return to growth.
David Sharp, The Associated Press
