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LL Bean Posts Pre-Recession Level Profits
03/08/2013 05:12 PM ET  

The private retailer, which just celebrated its 100th anniversary, says profits for its fiscal year that ended last month were healthy.

FREEPORT, Maine (AP) _ L.L. Bean says its profits have returned to pre-recession levels and that workers are being rewarded with a healthy bonus.

The private retailer, which just celebrated its 100th anniversary, says profits for its fiscal year that ended last month were healthy, even though sales grew only 0.5 percent, to $1.52 billion. LL Bean spokesperson Carolyn Beem.

"Profits were good, and cost saving measures that we put in place in previous years have shown some benefit, says Bean spokersperson Carolyn Beem. "And we are able to pay all year-round employees a 7.5 percent annual bonus."

Beem says productivity has increased. She says men's and women's apparel and sporting goods had their best sales in the company's history.

Ed Morin contributed reporting to this story.


 

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