L.L. Bean Takes Steps To Weather Slow Sales
Lower-than-expected fall sales and increased mailing costs have prompted L.L. Bean to institute a hiring freeze, cut operating budgets and delay a major expansion of its retail store.
In an effort to boost sales, L.L. Bean will run television ads in selected markets for the first time ever this holiday season. And it recently set up a site on the Internet’s World Wide Web that includes product descriptions and a history of the 83-year-old company.
Even though sales up are 10 percent this year, the company has fallen 7 percent behind its sales goal, spokeswoman Catherine Hartnett said Thursday. L.L. Bean had $975 million in sales in 1994.