The Series B round for Witherspoon’s Draper James brand was led by San Francisco-based Forerunner Ventures.
E-commerce grew 13.3%, while total sales fell 13.6%.
Wrestling fans aren’t watching as much pay-per-view or attending live events—but they are shopping more at WWE.com, the e-commerce arm of World Wrestling Entertainment Inc.
For the first quarter ended March 31, World Wrestling, No. 469 in the Internet Retailer Top 500 Guide, reported:
- E-commerce sales increased 13.3% to $3.4 million from $3.0 million in the first quarter of 2010.
- Total sales decreased 13.6% to $119.9 million from $138.7 million in the first quarter of 2010.
- Revenue for live and TV events declined year over year 24.6% to $19.6 million from $26.0 million.
- Net income declined 65.2% to $8.6 million from $24.7 million in the prior year’s first quarter.
Internet Retailer calculates the web accounted for 2.8% of total sales in the first quarter compared with 2.2% in the first quarter of 2010.
“While we understand the lead time required to develop new characters with broad appeal, we were disappointed with our financial performance and our management team is working on addressing these challenges,” says CEO Vince McMahon.