Ritz Interactive Reports Q1 Revenue

Ritz Interactive Reports Q1 Revenue


Ritz Interactive, Inc., the e-commerce network that includes RitzCamera.com, WolfCamera.com, BoatersWorld.com and other leading online-shopping sites, reported a 30 percent 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).