Bean Annual Sales Up Nearly 5% Mar 12, 2007 7:11 AM
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For fiscal 2006, sales at Freeport, ME-based L.L.
Bean were $1.54 billion, up 4.6% from $1.47 billion in 2005. E-commerce sales
grew nearly 10% and emerged as the company’s dominant sales channel.
As a result, the cataloger/retailer of apparel,
sporting gear, and home decor approved a cash award of 7.5 % of annual pay to
the 4,900 eligible employees, a payout of approximately $25.5 million. Regular
employees and temporary employees who worked a minimum of 1,000 hours in the
2006 calendar year and who were actively employed through December 2006 will
receive the performance bonus. An additional $8.8 million will be allocated to
the pension plan, keeping the plan fully funded.
