L.L. Bean is reportedly considering to discontinue its legendary return policy as the struggling apparel retailer seeks avenues to curb costs.
The Maine-based retailer seeks to end its famous "100% satisfaction guaranteed" return policy to cut costs.
L.L. Bean's takes back most of its products, even ones that have been used for years, for a valid reason. The company explains that abuse of its "satisfaction guarantee" is costing the company money.
"Our guarantee is based on something as simple as a handshake - the deal that you'll be satisfied with your purchase, and if you're not, we'll make it right. We guarantee that we'll hold up our end of the bargain. It's just how we do business. If your purchase isn't completely satisfactory, we're happy to accept your return at any time," this is L.L. Brand's company policy.
L.L. Bean is also considering to cut workers, freeze pensions and offer voluntary early retirement policy.
by RTT Staff Writer
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