Outdoor apparel and equipment supplier L.L. Bean reported sales on $1.47 billion for the fiscal year ended Feb. 26, a 4% boost over sales in 2004, the company said Friday.
The privately-held company also reported that its e-commerce operation emerged as a dominant sales channel in December of last year, setting operational records for the company and adding a record number of new customers. Online sales grew 28% last year, the company reported, but did not offer net income results.
L.L. Bean president Chris McCormick said that while events such as Hurricane Katrina had an impact on energy costs and consumer confidence, the company countered those effects with marketing ploys such as offering an unconditional free shipping promotion during November and December.
“While very risky and rather costly, it turned out to be a risk worth taking,” McCormick said.
Because of its strong results, the company announced, its board of directors has approved awarding bonuses of 8% of annual pay to eligible employees.
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