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L.L.Bean Continues Brick-and-Mortar Growth, following its strongest fiscal year in nearly a decade

Monday, May 3, 2021

Following its  strongest fiscal year in nearly a decade, L.L.Bean announces it will open seven new retail stores this year. Continuing to focus on building its direct-to-consumer, brick-and-mortar model.

“While 2020 posed many challenges to our business, including the temporary closure of all retail stores, we are committed to increasing our brick-and-mortar presence in order to serve more communities,” said L.L.Bean President and CEO Stephen Smith. “We know that a record number of people reconnected with the outdoors amidst the pandemic, some for the first time, and we see these new habits remaining firmly in place going forward.”

L.L. Bean’s focus on growth is fueled by “continued customer interest in a larger physical retail presence.”

Additionally, L.L.Bean’s flagship store in Freeport, Main will return to a 24-hour schedule, an around-the-clock service – as people return to a new state of normal.

“Returning to 24-hour service, extending hours and opening new stores all mark milestones for our organization and communities as we look toward a post-pandemic era and see a continued interest in the outdoors,” said Shawn Gorman, Executive Chairman.

Source: L.L. Bean IR April 29, 2021
Photo Credit: Wikipedia – L.L. Bean

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Article Topics: Brick and Mortar | Growth | LL Bean

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