March 10, 2008
L.L.Bean sales up 5.5% in 2007
L.L.Bean posted net sales of $1.62 billion in 2007, a 5.5% increase over 2006, the company said Friday.
Though sales for the Freeport retailer were "somewhat soft" in September and October 2007, December sales grew 20% over 2006, making up some of the difference, Chris McCormick, L.L.Bean's president and CEO, said in a press release. Online sales grew 14% over 2006, the release said.
Buoyed by the strong financial results, the company is doling out $18.5 million in employee bonuses, and is allocating $10 million to its pension plan, according to the release.
Though sales for the Freeport retailer were "somewhat soft" in September and October 2007, December sales grew 20% over 2006, making up some of the difference, Chris McCormick, L.L.Bean's president and CEO, said in a press release. Online sales grew 14% over 2006, the release said.
Buoyed by the strong financial results, the company is doling out $18.5 million in employee bonuses, and is allocating $10 million to its pension plan, according to the release.
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