L.L. Bean has reported a 17% increase in sales this holiday season, a considerable increase over last year when the Maine-based retailer reported a 10% increase, and outpacing the national average of 3% to 4%sales growth over the holidays. Internet sales were the primary growth driver, with a 48% increase as on-line retailer sales surpassed catalog sales for the first time in L.L. Beans history. This shift was reportedly a surprise for the company, which was expecting to cross this milestone sometime in 2006.
L.L. Bean had sales of about $1.4 billion last year and is projecting that 2005 revenues will increase by 5% to 6% to roughly $1.5 billion. However, company spokesperson Rich Donaldson told local papers that profits probably won't be as great because of additional expenses on marketing, free shipping, and other items.
