The Series B round for Witherspoon’s Draper James brand was led by San Francisco-based Forerunner Ventures.
Internet-based sales at J.C. Penny Co. Inc. grew 65% in March to $33 million.
Internet-based sales at J.C. Penny Co. Inc. grew 65% in March to $33 million from $20 million in March 2000. Year-to-date, Internet sales grew 56% to $55 million from $34 million last year. Comparable department store sales in March increased 2.7% from the same period last year. Catalog sales for March decreased 10.4% from the prior year period.
The company said catalog sales were reduced by the elimination of under performing specialty catalogs, the closing of outlet stores, and generally weak demand from the Spring/Summer big book. Total company preliminary sales for March decreased 0.2% to $2.872 billion from $2.877 billion in last year`s period.