L.L. Bean to award holiday bonuses
The gifts to employees reflect improved sales this fall and more stability after a difficult year.
L.L. Bean will award holiday checks to employees this year, an indication that the Freeport retailer is emerging from a tough financial year. The company has seen an increase in sales this fall, a spokeswoman said, prompting executives to revive the holiday bonuses, which were suspended last year.
The gifts range from $35 to $165 and are a small fraction of the annual bonuses that Bean workers can pocket if the company does well at the end of its fiscal year. Still, the return of the holiday checks is a welcome sign in a year when the company reduced its workforce and repealed its legendary open-ended return policy, citing abuse of the no-questions policy by some customers.
The checks will be distributed next month. Amounts depend on whether workers are seasonal and part-time, or full-time and year-round, said Carolyn Beem, the company spokeswoman.
The resumption of the holiday bonuses doesn’t guarantee the company’s decision on annual bonuses, which is still four months off. But it does reflect an upturn in sales last month that renewed optimism for the holidays, said Stephen Smith, Bean’s president and chief executive officer.
https://www.pressherald.com/2018/11/08/signaling-a-better-bottom-line-l-l-bean-to-award-holiday-bonuses/
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What I know is that the quality of a lot of their merchandise has gone straight to hell!
