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RITZ INTERACTIVE REPORTS FIRST QUARTER
REVENUE GROWTH OF 30 PERCENT
IRVINE, Calif., 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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