L.L. Bean revenues reached $1.52 billion for the fiscal year ending Feb. 23, 2013, flat with their level in 2011 and still below their pre-recession peak.

 

Still, the iconic Maine-based retailer said it would pay 7.5 percent performance bonuses to approximately 5,000 full and part-time employees. In 2011, sales grew 5.5 percent but fell short of internal goals due to one of the warmest winters in recorded history. As such, employees received only a 3 percent bonus in 2011. Sales climbed 5.7 percent in 2010, fell 6.6 percent in 2009 and fell 7.8 percent in 2008.

“It’s a well-deserved bonus,” said Leon Gorman, L.L.Bean’s chairman of the Board. “On behalf of the Board of Directors, I congratulate L.L.Bean employees on their outstanding performance this year. It is especially meaningful that we are closing the 100th anniversary year on such a positive note. “

“L.L.Bean has performed very well in a continuing volatile retail environment – with economic uncertainty, political distractions and shaky consumer confidence. We ended the year with a modest gain in net sales over the prior year, but significant improvement in productivity,” said Chris McCormick, L.L.Bean’s President and CEO. “We made substantial long-term productivity investments in the business beginning in 2010 – from web enhancements to product assortment to free shipping- and we are now reaping the benefits. Our investments in the website have doubled starting in 2010, as our sales continue to shift to online and mobile.

 

“The free shipping that we implemented in 2011, while a risk, has been well received by our customers and is paying off. Focus on product assortment has led to greater productivity and bottom line contributions; Men’s and Women’s Apparel and Sporting Goods had their best sales in company history and we have seen especially healthy improvements in our Hunting and Fishing categories. Our Maine-made L.L.Bean Boot production continues at an all-time high, demonstrating Bean’s first product is as relevant today as it was 100 years ago.”

Other 2012 highlights:



 


  • Men’s and Women’s Apparel and Sporting Goods had their best sales in company history; strong growth in our Hunting and Fishing categories.

  • L.L.Bean Boot production continues at an all-time high

  • J.D. Power and Associates ranked llbean.com “Highest Customer Satisfaction Among Online Retailers”*

  • Harris Poll’s Shopper Satisfaction Study of Online Retailers rated L.L.Bean top among clothing and apparel companies

  • Top ratings in ForeSee’s E-Retail Holiday Satisfaction Survey

  • $1.52 million in corporate contributions to charitable programs in 2012 (in addition to the $2.5 million in 100th anniversary donations)

  • Retail: One new store in Danbury, CT, built to U.S. Green Building Council’s LEED standards; one new Outlet store in North Hampton, N. H.

  • International: One new store in Japan, for a total of 20; 5 new stores in China, bringing the total to 62; in Canada, we saw the highest direct business demand year on record

  • On peak delivery day (Dec. 13, 2012) we shipped 180,458 customer orders

  • C. Everett Koop National Health Award for 2012 – for company commitment to employee health and wellness

  • Record-breaking United Way campaign raised $1.563 million in corporate and employee donations for the 5 Maine United Way offices

  • L.L.Bean met its goal of 20 percent reduction of Greenhouse Gas reduction from base year 2006

  • Business performance this year enabled L.L.Bean to make an additional contribution to its already very well-funded pension plan