Maine retailer L.L. Bean plans to triple its stores
Fresh off a banner year, the Maine retailer L.L. Bean says it plans to triple the number of stores it operates in the United States by 2020.
L.L. Bean, which has 26 full-price retail stores and 10 outlets in 12 states,intends to open four new stores in 2015 and then continue to grow to at least 100 stores over the next five years, according to Carolyn Beem, an L.L. Bean spokeswoman. Beem said Wednesday that the new stores will open in both existing and new markets, including an expansion beyond its western boundary, Colorado.
The news of the expansion was first reported by The Associated Press.
“Even though there are some huge online companies out there, the majority of shopping takes place in stores,’’ Beem said. “The retail stores for us are a way to introduce new customers to the brand and give customers an opportunity to touch, feel and see different fabrics, styles and fits. They can, in-turn, feel more confident ordering online.’’
The expansion plan follows several years of strong growth at L.L. Bean.
The company, which was founded in 1912, said it increased sales 3 percent to $1.6 billion in its most recent fiscal year ending in February. The company said it sold 450,000 pairs of its popular rubber-toe boots, some of which are still on back order after a holiday rush.
L.L. Bean purchased a second boot machine, which will be operational in May, to help meet the demand. The company has allocated $150 million to improve its systems and plans to add another $100 million in updates in 2015, Beem said.
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