The company plans to use the funds to expand internationally.
Web sales at Sharper Image grew 44% in September while total sales grew 25%. Web sales at J.C. Penney grew 60%; at Pac-Sun, 86%.
Internet sales growth paced Sharper Image Corp.’s growth in September and the first eight months of this year, growing 44% for both periods over the year-earlier periods, the company reported today. Companywide sales grew 25% in September and 24% in the first eight months.
Internet sales in September reached $5.6 million from $3.9 million and accounted for 14.3% of total sales of $39.2 million vs. 12.5% of $31.2 million in September 2002. The company continues to shine in all channels with catalog sales up 24% and comparable store sales up 8%.
Internet sales for the first eight months reached $45.5 million from $31.6 million and accounted for 14.3% of total sales of $319.1 million vs. 12.3% of $257 million in the first eight months of 2002. Catalog sales in the first eight months were up 11% and comparable store sales up 15%.
Other retailers reported strong Internet sales growth as well, without reporting dollar volume. J.C. Penney Co. Inc. says its Internet sales in September were 60% higher than in September 2002. Comparable store sales were up 0.7%.
Internet sales at Pacific Sunwear of California Inc. were up 86% in September from a year ago while companywide sales were up 29%. Comparable store sales were up 18.5%.