• Loading stock data...
Saturday, May 18, 2024

Athleisure Pushes L.L. Bean to $1.8B in Annual Revenue

LLBean
L.L. Bean/Design: Alex Brooks

L.L. Bean reported a 14% increase in annual net revenue to $1.8 billion, which is reportedly the company’s biggest gain since 1993 and adds to last year’s 5% growth.

During the year, L.L. Bean entered the athleisure market, which is estimated to reach $257.1 billion by 2026.

With more than 800 new products, the apparel company recorded double-digit growth in a variety of segments.

  • Active apparel: +36%
  • Active footwear and hiking footwear: +26%
  • Outerwear: +28%
  • Winter sports: +25%

L.L. Bean said active apparel growth was driven by its new athleisure offerings. It joins other companies that have recently entered the market including Abercrombie & Fitch, Allbirds, Target, Dick’s Sporting Goods, and Foot Locker.

Spending Habits

CEO Steve Smith highlighted the company’s increased volume of orders from vendors, as consumers’ purchasing habits at the beginning of the pandemic skewed toward outdoor gear.

L.L. Bean also hit an all-time demand record for both men’s and women’s apparel. In return, the company’s board of directors approved a bonus of 20% of annual pay for all employees.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Sponsored

Major League Rugby’s Vision for American Rugby

How Major League Rugby is leading the Rugby renaissance in the U.S.

ESPN Narrowly Avoids Disaster on Hurricanes-Rangers Broadcast

The network briefly switched playoff games in crunch time of Canes-Rangers.

Iowa Athletes Sue State, Citing ‘Unconstitutional’ Tracking of Gambling

They claim investigators didn’t get warrants, misled about the purpose of questioning.

Rockies Coach’s Team Plane Cockpit Visit Triggers Federal Investigation

A since-deleted video shows him sitting in the cockpit mid-flight.
podcast thumbnail mobile
Front Office Sports Today

MLB, NBA, NHL Broadcasting Future Goes to Court

0:00

Featured Today

February 5, 2019; Washington, DC, USA; The grounds of the Capitol Building empty out following the conclusion of President Donald Trump's State of the Union speech on February 5, 2019.

‘A Breathtaking Lobbying Campaign’: The NCAA’s Sophisticated Effort to Save Amateurism

Inside the carefully coordinated, multimillion-dollar operation to end the athletes’ rights era.
May 14, 2024

The WNBA Was Forged in Houston. Why Won’t It Go Back There?

Houston’s a perfect fit for expansion. The league isn’t considering it yet.
May 9, 2024; Indianapolis, IN, USA; Indiana Fever guard Caitlin Clark (22) stands with the team during the national anthem on Thursday, May 9, 2024, during the preseason game against the Atlanta Dream at Gainbridge Fieldhouse in Indianapolis.
May 12, 2024

‘Perfect Storm’: The Rise of Local WNBA Broadcast Pacts

With national attention reaching new heights, regional coverage could dictate the future.
Mar 29, 2023; New York, New York, USA; American actors and comedians Chris Rock (left) and Ben Stiller sit court side during the third quarter between the New York Knicks and the Miami Heat at Madison Square Garden.
May 11, 2024

The Haves and Have-Nots: How the Knicks’ Celebrity Row Works

Unwritten rules, an expectation of quid pro quo, and nothing is free.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Live Nation
Multiple - USA Careers
Adidas
Multiple - USA Careers
FanDuel
Multiple - USA Careers

Is There a Sneakerhead Culture for Soccer Jerseys? PE Firm Thinks So

The Chernin Group invests $38.5 million in a U.K.-based seller of vintage jerseys.
April 11, 2024

Fanatics Steps Into Live Events After Being Tripped up by Uniforms

The new three-day sports festival is modeled somewhat after New York Comic Con.
May 16, 2024

Cuts and Layoffs Coming at Under Armour As Sales Keep Dropping

Under Armour just reinstalled founder Kevin Plank as CEO.
Sponsored

Major League Rugby’s Vision for American Rugby

How Major League Rugby is leading the Rugby renaissance in the U.S.
March 14, 2024

Under Armour Turns to Its Founder As Industry Turbulence Continues

The embattled sports apparel and footwear company brings back its founder.
March 13, 2024

Trouble for the Three Stripes: Adidas Posts First Annual Loss Since 1992

The North American market proves troublesome for the athletic footwear and apparel giant.
February 19, 2024

Caitlin Clark Passes Shedeur Sanders to Top Fanatics’ NIL-Era Sales

The Iowa guard took the spot hours after her record-breaking game against Michigan on Thursday.
Sponsored

NASCAR Capitalizes on the Sportswear Boom in a New Deal With ’47

With the new partnership between ’47 and NASCAR, racing fans can express their love like never before.