(AP) – The Board of Directors today approved the bonuses that are each equal to7.5% of a worker’s annual salary.
Chairman Leon Gorman, grandson of founder L.L. Bean, says it’s a ":well-deserved bonus.":
The Freeport-based company finished the year with 1.54billion dollars in sales for the fiscal year ending February 25th. That represents an increase of 4.6% from the previous year.
Also noteworthy, this was the first year in which online sales overtook traditional catalog sales, most of which are made via toll-free calls.
Overall, the privately held company says e-commerce sales grew by 10%. The company also added 400 regular employees over the year.