As a true heritage brand with a commitment to outdoor adventures and creating quality products, L.L. Bean isn’t riding on its reputation in favor of exploring new markets and collaborations.
For its 2023 fiscal year, L.L. Bean’s annual revenue of $1.7 billion fell short of its budget goals and sales decreased slightly compared to the previous year’s $1.8 billion mark. Announcing those results last month, the company said it had “ensured steady inventory and timely fulfillment,” while navigating supply chain challenges. Outerwear, sweaters and denim were categories that contributed year-over-year growth.During fiscal-year 2023, L.L.
The flexibility has been helpful in recruiting talent post-pandemic, especially those with young families, who might want to be home for the morning school bus pickup or the afternoon drop-off. “And we’re in Maine. People come to Maine for lots of reasons other than a paycheck. People appreciate that flexibility, including being able to work at home, if your child care isn’t working on a certain day,” said Smith, who has led the company since 2016.
For Mental Health Awareness Month in May, L.L. Bean will be taking a monthlong break from social media to prioritize time outdoors and to challenge followers to do the same. The brand will clear itsgrid, pause posting across all of its social media channels, and host a user challenge with the NatureDose app to help people track their time outside.
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