Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Web sales at J.C. Penney Co. Inc. totaled $18 million in July, up 20% from last July, and $129 million in the first half, up 37%. Web sales still account for less than 1% of Penney’s total sales and 2% of department store sales.
Web sales at J.C. Penney Co. Inc. totaled $18 million in July, up 20% from last July’s $15 million, and $129 million in the first half, up 37% from the $94 million in last year`s first half, the company reported today. Even with such impressive growth, Penney’s web sales in the first half account for only 2% of department store sales and 0.88% of Penney’s total sales.
Plano, TX-based Penney’s department store sales increased 2.2% for the month, driven by planned promotions and clearance events, with the best performing merchandise categories for the month being home furnishings, women`s apparel and women`s accessories, the company said. Department store sales totaled $935 million in July and $6.35 billion for the first half.
Comparable-store sales at Penney’s Eckerd Drugs increased 10%. Catalog sales for July decreased 23.7%, affected primarily by the later distribution of the Fall/Winter catalog and overall weak consumer demand, the company said. Drugstore sales totaled $1 billion in July and $6.8 billion in the first half.
Total sales at J.C. Penney reached $2.15 billion in July vs. $2.12 billion in July 2000 and $14.7 billion for the first half of the year, unchanged from a year ago.