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PRESS RELEASE: Ritz Interactive Reports Fourth Quarter Revenue Growth Of 37 Percent And 20 Percent Annual Growth
IRVINE, Calif., March 27, 2007, - Ritz Interactive, Inc., the e-commerce network that includes RitzCamera.com, WolfCamera.com, BoatersWorld.com and other leading online-shopping sites, reported a 37% increase in merchandise revenue for the fourth quarter of 2006 over the same period last year. Fourth quarter merchandise revenue grew to $36.4 million in 2006, compared to $26.5 million during the same three-month period of 2005. Annual merchandise revenue grew 20%, from $83.2 million in 2005 to $99.5 million in 2006. Ritz Interactive President & CEO Fred H. Lerner credits the sales increase to continued strong consumer demand for digital single lens reflex cameras, the recent addition of thousands of new consumer electronics products, strong corporate sales and attractive holiday promotions including those with Google Checkout and PayPal.
"Much of our recent revenue growth is from customers upgrading their entry level point and shoot digital cameras to the new, more sophisticated digital single lens reflex cameras," noted Lerner. "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.
(First posted on Tuesday, March 27, 2007 at 13:15 EDT)