PORTLAND PRESS HERALD • March 18, 2022
A greater interest in the outdoors during the pandemic helped to drive double-digit revenue growth for L.L. Bean, allowing the board to provide a healthy bonus for workers on Friday. Sales grew by 14 percent during the retailer’s 2021 fiscal year, the biggest gain since 1993, and a cash bonus of 12 percent was awarded to workers. CEO Steve Smith said the company bet on strong performance and increased the volume of orders from vendors as shoppers began snapping up outdoor gear at the start of the pandemic. “People clearly reconnected to the outdoors, and the outdoors became a critical component in people’s lives.”