L.L. Bean Says Sales Dipped

Updated 5 years ago

Outdoors clothing retailer L.L. Bean says sales dipped again in 2009, but the company managed to beat its own projections. The company also said online sales beat catalog orders for the first time. President and CEO Chris McCormick told employees Friday that revenue for the fiscal year that ended last month was about $1.4 billion, down from $1.5 billion the year before. Still, employees will get a 3 percent bonus. The second straight drop in sales capped a challenging year forthe Maine-based company. The company’s revenues have declined onlyfour times since 1960. McCormick says that the company will invest this year inbuilding its online presence, opening more stores in China andattracting younger customers to the brand.


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