L.L. Bean has second-best year in its history

FREEPORT — L.L. Bean announced on Friday the company earned $1.8 billion in 2022, listing its Wicked Good Slippers as the top-performing product.

In its 110th year, 2022 was reported to be the company’s second-best year in history. Some of those earnings will be shared with its workers.

“Keeping with tradition, the company is rewarding employees for its continued success,” according to a statement released by the company, “awarding a bonus of 13.5% of annual pay to its approximately 5,500 team members, comprised of a 7.5% cash bonus and a 6% 401(k) contribution. Despite sizeable market headwinds, the company reported its second-best year ever.”

L.L.Bean’s top-performing categories and products in 2022 “reflected evolving consumer habits and lifestyle changes,” the release stated, “as consumers shifted behaviors to return to the office while continuing to prioritize leisure and outdoor activities.” Highlights include:

— The company recorded an all-time combined sales record in men’s and women’s apparel (including office attire), while simultaneously tracking triple-digit growth in comfort categories such as quilted sweatshirts (up 112%) and “wearable throws” (up 252%).

— Wicked Good Slippers continued to be the company’s top-performing product, with eight pairs sold per minute during the holiday season.

— L.L.Bean’s fishing category also charted an all-time sales record, increasing 5%. Technical fishing apparel grew 13%, with new inclusive men’s and women’s sizes significantly contributing to that growth.

— Travel was L.L.Bean’s fastest-growing category with a 23% increase , and women’s swimwear saw a 10% increase.

— L.L.Bean’s boot category, for which the company is best known, saw a 24% increase.