L.L. Bean now plans to open only one store this year. In December 2008, L.L. Bean said it was only opening two of the eight
stores it expected to open in 2009 while also announcing a plan to
offer voluntary retirement incentives to some employees.
A store in Dedham, MA will open on July 24. Two other stores in
Malvern, Pa., and Rochester, N.Y. are slated to open next year.
A company spokesperson told mainetoday.com that the company still has a
goal of having 32 stores in operation in 2010, but she said the company
isn't committed to a specific timetable. L.L. Bean currently operates
12 stores, including its flagship in Freeport, Maine.
Revenue were down 7.8% to $1.5 billion for the fiscal year ending in
February. It was only the third time the company has seen declining
revenue since 1960.
