Ritz Interactive Reports First Quarter Revenue Growth of 30 Percent
2008-04-03 03:00:00
Ritz Interactive Reports First Quarter Revenue Growth of 30 Percent
IRVINE, CA–( EMWNews – April 3, 2008) – Ritz Interactive, Inc., the e-commerce network
that includes RitzCamera.com, WolfCamera.com, BoatersWorld.com and other
leading online-shopping sites, reported a 30% increase in merchandise
revenue for the first quarter of 2008 over the same period last year. First
quarter merchandise revenue grew to $25.0 million in 2008, compared to
$19.3 million during the same period in 2007. Ritz Interactive President &
CEO Fred H. Lerner credits the sales increase to continued strong consumer
demand for digital single lens reflex cameras, the addition of thousands of
new consumer electronics products, strong corporate sales and attractive
promotions from suppliers and PayPal.
“Much of our recent revenue growth is from customers upgrading their entry
level digital cameras to the new, more sophisticated digital single lens
reflex cameras,” noted Lerner. “We have seen a tremendous demand for newly
introduced high-end digital cameras from Nikon and Canon. Specifically, the
Nikon D300, Nikon D3 and Canon EOS 1DS Mark III are doing exceptionally
well. Additional growth is attributed to our continued expansion into the
consumer electronics, home office and corporate business,” Lerner said.
Launched in April of 1999, Ritz Interactive has evolved into one of the
Web’s most successful retailers, offering online shoppers an amazing array
of products and accessories, plus the added benefits of no sales tax and
free shipping on most photo items. In addition to its flagship Web
properties RitzCamera.com (www.RitzCamera.com), WolfCamera.com
(www.WolfCamera.com) and BoatersWorld.com (www.BoatersWorld.com), the Ritz
Interactive network includes such popular sites as CameraWorld.com
(www.CameraWorld.com), PhotoAlley.com (www.PhotoAlley.com), eAngler.com
(www.eAngler.com), OuterBanksOutfitters.com (www.OuterBanksOutfitters.com),
and ShopAtShark.com (www.ShopAtShark.com).
About Ritz Interactive, Inc.
Ritz Interactive is an award-winning, specialty online retailer and
e-commerce service provider that operates a network of websites offering
high quality, branded lifestyle products. Since its inception in Irvine,
California in 1999, the company has become a leader in providing a full
selection of photographic and consumer electronics products as well as a
wide range of marine, boating and fishing products, at competitive prices
for online shoppers. Ritz Interactive’s leading photo-specialty and
consumer electronics e-commerce websites are RitzCamera.com and
WolfCamera.com, while the company’s leading marine e-commerce website is
BoatersWorld.com. Each of the individually branded and marketed websites
offers a broad and deep selection of competitively priced products and
brings an established brick-and-mortar reputation to the company’s
e-commerce platform.
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