Overview
- Elder will begin transitioning into the role in the first quarter as the company closes its fiscal year in late February, with Stephen Smith serving as an advisor through March.
- He becomes the retailer’s fifth president and CEO after nearly two decades at L.L. Bean, most recently as chief retail officer overseeing stores, wholesale, international and direct-to-business.
- The company outlines an “evolve and amplify” strategy centered on enhancing the omnichannel experience, elevating product assortment, and entering new and growing markets.
- L.L. Bean plans to open eight new U.S. stores in 2026 as part of its retail expansion.
- E-commerce is reported to be a primary revenue driver, with annual net revenue totaling $1.7 billion in both 2024 and 2023, according to the Boston Globe.