© 2024 Maine Public

Bangor Studio/Membership Department
63 Texas Ave.
Bangor, ME 04401

Lewiston Studio
1450 Lisbon St.
Lewiston, ME 04240

Portland Studio
323 Marginal Way
Portland, ME 04101

Registered 501(c)(3) EIN: 22-3171529
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations
Scroll down to see all available streams.

Last year was L.L. Bean's second best for revenue

Shoppers exit the L.L. Bean retail store in Freeport, Maine.
Robert F. Bukaty
/
AP
Shoppers exit the L.L. Bean retail store in Freeport, Maine.

Despite uncertainty in retail markets due to inflation and recession worries, L.L. Bean Friday announced net revenues of $1.8 Billion in 2022, its second-best year since being founded 110 years ago.

The outdoor retailer reported record sales of apparel, with triple-digit growth in comfort wear in 2022. The iconic Bean Boot celebrated its 110th anniversary, fueling a 24% increase in boot sales. The company says it also experienced double-digit sales gains in travel gear, as consumers continue to prioritize outdoor activities after the pandemic.

L.L. Bean says it will reward its 5,500 employees with a bonus of 13.5% of annual pay.

Moving forward, the retailer says it plans to eliminate the use of PFAS in its name-brand products by the end of 2024, and is using more sustainable down, cotton, nylon, and polyester. L.L. Bean says it will also replace plastic packaging with recycled paper for most of its customer shipments.