L.L.Bean Announces 2025 Year-End Results and Employee Contributions

Outdoor lifestyle retailer L.L.Bean announced today the close to its 2025 fiscal year, with annual net revenue totaling $1.7 billion. In recognition of these results, the L.L.Bean Board of Directors approved a performance bonus of 6 percent of annual pay for its approximately 5,700 year-round employees, comprised of a 3.5% percent cash bonus and a 2.5 percent 401(k) contribution.

Throughout the year, L.L.Bean navigated a retail landscape marked by cautious consumer spending, ongoing inflationary pressure, and shifting global trade dynamics. Against these headwinds, the company made meaningful progress toward key strategic priorities, including expanding its omnichannel capabilities and advancing product innovation.

Building on its omnichannel growth strategy, L.L.Bean expanded its retail presence in 2025 with the opening of seven U.S. stores while continuing to grow its wholesale and independent specialty partnerships and brand collaborations. The company will carry that momentum into 2026 with plans to open eight additional retail stores and will mark a major milestone this fall with the completion of the L.L.Bean Flagship Re-Boot, reopening its iconic Flagship store in Freeport.

L.L.Bean also announced a leadership transition in 2025, following a decade of stewardship by former President and CEO Stephen Smith. In January 2026, longtime L.L.Bean executive Greg Elder was named President and CEO. With nearly two decades at the company and a strong track record for helping grow its omnichannel business as chief retail officer, Elder will lead L.L.Bean into its next chapter while continuing to build on the company’s values of quality, service, and outdoor heritage.

“This past year brought meaningful challenges across the retail landscape amid ongoing economic uncertainty. I’m proud of how our teams stayed focused on what matters most, delivering quality outdoor lifestyle products and showing up for our customers,” said Greg Elder, L.L.Bean President and CEO. “Their dedication and nimbleness helped us navigate a complex year while positioning the company for sustainable growth.”

Shawn Gorman, L.L.Bean Chairman and great-grandson of Leon Leonwood Bean added, “On behalf of the family and the Board, I want to thank Greg and Steve for their steady leadership over the past year. Transitioning to a new CEO can be complex, but in our case it was seamless. Additionally, I am proud of all our employees worldwide who delivered another year of solid results, while always keeping a focus on what’s to come in the year ahead.”

In accordance with its long-held stakeholder philosophy, L.L.Bean is committed to considering the impacts of business decisions on six key stakeholder groups: customers, employees, communities, vendors, shareholders, and the natural environment. Here are the highlights from core areas of impact in 2025:

• Expanded L.L.Bean’s brick-and-mortar footprint with seven new U.S. store openings (six retail and one outlet).
• Established wholesale partnerships with Free People, Backcountry and 94 outdoor independent specialty stores, placing L.L.Bean products in 125 new storefronts and 60 new e-commerce platforms.
• Delivered seven experiential activations across key markets, including the bicoastal Japan Edition launch and the L.L.Bean Residency in New York City, creating hands-on opportunities for new audiences to engage with the brand and its iconic products.

• Expanded professional sports sponsorship portfolio to four teams with the addition of Hearts of Pine, an American professional soccer team based in Portland, Maine.
• Delivered a cozy surprise-and-delight moment in Boston by “flannelling” the Green Monster at Fenway Park, distributing over 250 limited-edition product packages exclusively to fans in attendance.
• The Bootmobile traveled over 23,000 miles and surprised five couples by attending their summer weddings, creating memorable moments for guests and showing up for L.L.Bean customers in unexpected ways.

• Employed 7,500+ team members globally in L.L.Bean retail stores and across offices (and homes) in the U.S., Costa Rica, Japan, Hong Kong, Taiwan and more.
• Hired 2,200+ seasonal employees to meet peak holiday season demand.

• Offered free health screenings to approximately 200 employees in partnership with InterMed.
• Through Bean Cares (Emergency Assistance) Program, 23 employees received grants averaging $1,500.
• Offered approximately 450 activity and 230 health education class sessions, including over 70 classes related to mental health education and support.

• Reached 100% paper packaging originating from the Order Fulfillment Center and have begun transitioning from plastic to paper with vendors.
• Reached goal of reducing greenhouse gas emissions at L.L.Bean-owned facilities by 50% by 2025.
• On track to achieve full value chain carbon emissions reduction by 25% by 2030.
• Invested in renewable energy across the U.S. to reach goal of 100% equivalent of Maine electricity use.
• 92% of outerwear uses a preferred material, aligning focus on sustainable options in cotton.