Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Internet sales at J.C. Penney Co. Inc. increased 35% in August over August of last year, the company has reported. Total sales for the month were up 4.3% to $1.54 billion.
Internet sales at J.C. Penney Co. Inc. increased 35% in August over August of last year, the company has reported. Total sales for the month were up 4.3% to $1.54 billion in August from $1.47 billion last August. Comparable department store sales were up 3.8%.
The company doesn’t break out Internet sales by dollars, but reports that combined catalog/Internet sales were up 6%to $194 million in August from $183 million a year ago.
“Sales reflected good customer response to back-to-school merchandise assortments as well as the Home marketing event, and represented the fourth consecutive year of solid August performance,” the company said in its earnings release.
For the seven months of the year, catalog/Internet sales were up 3.1% to $1.37 billion from $1.33 billion while department store sales were up 7.4% to $8 billion from $7.5 billion. Total sales were up 6.8% to $9.4 billion from $8.8 billion