L.L. Bean to open at least 100 stores by 2020

Maine-based L.L. Bean Inc. intends to almost triple its store count by 2020, according to a company memo distributed to employees this month.

The memo said L.L. Beant will open four stores in 2015 and at least 100 by 2020. L.L. Bean CEO and President Chris McCormick told the Boston Globe that the stores will be smaller, around 15,000 square feet.The memo was signed by McCormick, who plans to retire in 2016.

Currently, L.L. Bean operates 26 stores and 10 outlets in the United States. The retailer does not have any stores west of Colorado, but plans to open new stores in the Pacific Northwest. All new stores will be full-price locations.



A company spokesperson told the Bangor Daily News that the store openings are part of a broader omnichannel strategy that will give customers the maximum number of shopping options. Stores may also become pickup spots for online purchases. L.L. Bean will base store locations on catalog and online sales and general market research.



Each store will have between 80 and 130 full- and part-time employees, more than doubling L.L. Bean’s current domestic workforce.



This decision comes as L.L. Bean recently announced 3% net revenue growth to $1.61 billion during fiscal 2014. The retailer will pay a 5% cash award to approximately 5,300 employees.