L.L. Bean Achieves Record Net Sales for 2003
Net sales at L.L. Bean for the 2003 fiscal year ending Feb. 28 were $1.2 billion, up 10 percent from 2002, the company announced March 13.The Freeport, ME, company cited improvements in pricing, retail merchandising, catalog marketing and lower liquidation costs. L.L. Bean generated its largest year-over-year sales increase since 1995. Its previous high for annual net sales was $1.14 billion in 2001.
Sales in all channels rose, with the e-commerce and retail divisions gaining 26 percent and 12 percent, respectively.
The company produced its best December in history, up 8 percent over 2002.
