FREEPORT, Maine (AP) Maine-based retailer L.L. Bean saw the best sales in nearly a decade during pandemic.
Officials say the Freeport-based retailer started its fiscal year with store closings and worries about survival but the company weathered the turbulent times to revenue growth of 5 percent. That’s the best showing since 2011.
Analyst say L.L. benefited from two of the hottest retail segments during the pandemic, comfort items like slippers, pajamas and loungewear, and outdoor gear like hiking boots, fishing gear and canoes.
CEO Steve Smith said the company’s board awarded a cash bonus of 10 percent of workers’ salary and an additional 401(k) contribution equal to 8 percent of salary.