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LL Bean pleased with 2018 performance, awards bonuses

FREEPORT, Maine — L.L. Bean says sales edged upward over the past year and that’s enough to restore bonuses for its 5,400 eligible workers.

The Maine-based company said Friday that revenue grew by 1 per cent in a changing and challenging retail environment.

The board awarded performance bonuses of 5 per cent for workers. Last year, there were no bonuses for the first time in a decade.

L.L. Bean is coming off several years of flat sales and belt-tightening that included a reduction in workforce, changes in its generous return policy, and a paring of product lines to refocus on the company’s outdoors roots.

The company announced last year that it plans to open L.L. Bean-branded stores in Canada as part of its strategy to return to growth.

David Sharp, The Associated Press

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