Strong holiday sales help boost L.L. Bean

PORTLAND – L.L. Bean announced Friday that sales for fiscal 2007 jumped 5.5 percent, fueled by strong December results that bucked the overall trend among retailers.

The outdoors outfitter known for its chamois shirt and signature hunting boot said net sales for the year ended Feb. 24 totaled $1.62 billion, up from $1.54 billion the year before. The privately held company does not release earnings.

L.L. Bean said its board approved a bonus of 5 percent of annual pay to its more than 5,000 year-round employees, a payout totaling about $18.5 million.

“L.L. Bean has performed very well in a challenging retail environment,” said Chris McCormick, president and CEO. “It was a solid team effort deserving of recognition for our employees for their outstanding performance in a year that we faced stiff headwinds as a result of a weakening economy.”

A near-record spring season was followed by “somewhat soft” sales during an unseasonably warm September and October, McCormick said. December, however, proved very strong, with a 50 percent rise in sales during the final two weeks.

The Freeport-based company reported strength in cold weather gear and apparel, particularly in its men’s and kids’ lines.

Many of the nation’s big retailers reported weaker holiday sales as consumers cut down on spending amid higher energy costs and the continuing housing slump. Apparel sellers were particularly hard hit.

Retail analysts gave high marks to L.L. Bean’s aggressive online marketing that flooded e-mail inboxes with special offers. These included free shipping and coupons for future purchases by customers who had shopped at L.L. Bean before, said Candace Corlett, president of WSL Strategic Retail, a marketing consulting firm in New York.

“They pulled out all of the marketing tools in their arsenal, and it worked,” she said.

L.L. Bean spokeswoman Carolyn Beem said the December offer of $10 gift cards with $50 purchases was well-received and helped drive sales in January.

L.L. Bean’s success reflects strong online sales and the company’s “great name,” said Howard Davidowitz, chairman of Davidowitz & Associates, a retail consulting firm in New York.