L.L.Bean’s sales were flat in 2025 for the third straight year, totaling $1.7 billion. In recognition of these results, L.L.Bean’s Board of Directors approved a performance bonus of 6 percent of annual pay for its approximately 5,700 year-round employees.

The bonus consisted of a 3.5 percent cash bonus and a 2.5 percent 401(k) contribution.

The bonus is slightly below the 6.5 percent bonus paid in 2024 and well below the 9 percent paid out in 2023, even though sales levels were the same in both years. L.L.Bean paid out a 13.5 percent bonus for 2022 despite sales dipping 1 percent. In 2021, a 20 percent bonus was paid as sales surged 14 percent year-over-year in one of the most successful years in the retailer’s 114-year old history.

In a statement, the Maine-based retailer indicated it face some challenges during 2025. The statement read, “Throughout the year, L.L.Bean navigated a retail landscape marked by cautious consumer spending, ongoing inflationary pressure, and shifting global trade dynamics. Against these headwinds, the company made meaningful progress toward key strategic priorities, including expanding its omni-channel capabilities and advancing product innovation.”

L.L.Bean said it expanded its retail presence in 2025 with the opening of seven U.S. store, including six retail and one outlet store. As previously disclosed, the company plans to open eight additional retail stores in 2026 and will mark a major milestone this fall with the completion of the L.L.Bean Flagship Re-Boot, reopening its iconic Flagship store in Freeport.

In December 2025, L.L.Bean announced plans to open eight stores in 2026, including its first locations in Alabama and Tennessee. At the time, the retailer further said it intends to add eight to 10 storefronts in 2027, including new markets in the Midwest and Southeast. At the close of 2025, L.L.Bean operated 68 stores in 19 states across the United States, along with 18 stores in Japan and 16 stores in Canada, in partnership with Jaytex Group

The retailer also reported it continued to grow its wholesale and independent specialty partnerships and brand collaborations. L.L. Bean said it established wholesale partnerships with Free People, Backcountry and 94 outdoor independent specialty stores, placing L.L.Bean products in 125 new storefronts and 60 new e-commerce platforms.

 L.L. Bean opened its first wholesale accounts through an agreement in 2018 to sell products in Sporting Life, Hudson’s Bay and Mountain Equipment Co-Op stores in Canada. It opened its first U.S. wholesale account by partnering with Nordstrom, Staples and Scheels in 2020. and then added Dillard’s and several independent outdoor stores in 2023.

At the c-suite level, L.L.Bean announced a leadership transition in 2025, following a decade of stewardship by former President and CEO Stephen Smith. In January 2026, longtime L.L.Bean executive Greg Elder was named president and CEO. The retailer said in its statement, “With nearly two decades at the company and a strong track record for helping grow its omnichannel business as chief retail officer, Elder will lead L.L.Bean into its next chapter while continuing to build on the company’s values of quality, service, and outdoor heritage.”

Elder said in the statement, “This past year brought meaningful challenges across the retail landscape amid ongoing economic uncertainty. I’m proud of how our teams stayed focused on what matters most, delivering quality outdoor lifestyle products and showing up for our customers. Their dedication and nimbleness helped us navigate a complex year while positioning the company for sustainable growth.”

Shawn Gorman, L.L.Bean chairman and great-grandson of Leon Leonwood Bean added, “On behalf of the family and the Board, I want to thank Greg and Steve for their steady leadership over the past year. Transitioning to a new CEO can be complex, but in our case it was seamless. Additionally, I am proud of all our employees worldwide who delivered another year of solid results, while always keeping a focus on what’s to come in the year ahead.”

Other highlights for the year include:

Brand Partnerships and Activations

  • Delivered seven “experiential activations” across key markets, including the bicoastal Japan Edition launch and the L.L.Bean Residency in New York City, creating opportunities for new audiences to engage with the brand and its products.
  • Expanded professional sports sponsorship portfolio to four teams with the addition of Hearts of Pine, an American professional soccer team based in Portland, Maine.
  • The Bootmobile traveled over 23,000 miles and surprised five couples by attending their summer weddings, creating memorable moments for guests and showing up for L.L.Bean customers in unexpected ways.

Employee Wellbeing

  • Offered free health screenings to approximately 200 employees in partnership with InterMed.
  • Through Bean Cares (Emergency Assistance) Program, 23 employees received grants averaging $1,500.
  • Offered approximately 450 activity and 230 health education class sessions, including over 70 classes related to mental health education and support.

Sustainable Business Practices

  • Reached 100 percent paper packaging originating from the Order Fulfillment Center and have begun transitioning from plastic to paper with vendors.
  • Reached goal of reducing greenhouse gas emissions at L.L.Bean-owned facilities by 50 percent by 2025.
  • On track to achieve full value chain carbon emissions reduction by 25 percent by 2030.
  • Invested in renewable energy across the U.S. to reach goal of 100 percent equivalent of Maine electricity use.
  • 92 percent of outerwear uses a preferred material, aligning focus on sustainable options in cotton.

Image courtesy L.L.Bean