Lakeshirts says 'Thanks a Million' to employees: Apparel company announces second consecutive annual profit share of over $1 million
Lakeshirts, Inc.has announced a 2018 profit share total in excess of $1,000,000 that was recently distributed to employees for their help in making 2018 a profitable year. This is the second consecutive year in which the profit sharing pool eclipsed the million dollar mark.
Lakeshirts' leadership believes in being transparent through open-book management, as well as sharing any success with the employees who helped make it possible. Because of this philosophy and the success of 2018, employees each received a share of the company's 2018 profits.
"Winning is a team effort — we couldn't do it without everyone contributing," stated Michelle Daggett, Lakeshirts' President. "That's what makes our profit sharing program so special. When the team wins, the team members win. It's incredible that our owners are able to share over a million dollars with the entire team for the second year in a row, and that's a testament to the team's performance."
2018 was a strong year for the company as Lakeshirts saw sales growth every month in 2018 on a year over year basis. As such, the company increased their staff from over 500 to well over 600 employees to ensure they continue to wow their customers and provide exceptional, "Minnesota nice" customer service. Likewise, in the past year the company expanded its product offering by adding signs to its assortment, made significant investment in production equipment, and purchased the highly successful Lakegirl brand.
Lakeshirts' profit sharing plan speaks directly to the company's values of team and meritocracy and is a way to award employees for their performance against established goals. It also helps to empower each team member to keep making ideas happen, giving them the ability to define their success and take it to the next level.
"Our culture is a direct reflection of our people, and it is a culture that likes to win," exclaimed Daggett. "Given that, we're looking forward to continued big things in 2019."