“Our global teams continued to skillfully navigate a changing retail environment and uncertain economic climate. “As we close the books on 2022, we are honored to have been the retailer of choice for so many customers who turned to L.L.Bean to outfit them for outdoor adventures,” said L.L.Bean President and CEO Stephen Smith. The company also expanded its longstanding inclusive sizing program, introducing more styles in a variety of size options for all body types (tall, petite and plus) and instituted a one-price model for apparel as part of its commitment to inclusivity and equity in the outdoors. L.L.Bean also made significant investments in expanding top-performing categories, including its Active and Rugged product lines, which span footwear, apparel, gear and accessories. In its 110th year in business, the company credited ongoing investment in its omnichannel strategy as a key contributor to mantaining solid sales – reaching new and current customers through e-commerce, brick-and-mortar stores, international expansion, wholesale partnerships, mobile selling experiences, L.L.Bean for Business, and its signature L.L.Bean catalog. In recognition of these results, the L.L.Bean Board of Directors approved a performance bonus of 13.5 percent of annual pay for its approximately 5,500 employees, comprised of a 7.5 percent cash bonus and a 6 percent 401(k) contribution. ![]() Following record-breaking sales growth in 20, the company saw a slight decrease in revenue in 2022 but held onto recent gains to yield its second-strongest revenue performance in company history. ![]() ![]() Iconic outdoor retailer L.L.Bean announced today the close to its 2022 fiscal year, with annual net revenue totaling $1.8 billion.
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