Ritz Interactive reports Q1 revenue growth

swadminApril 4, 2008

IRVINE, Calif. – Ritz Interactive, Inc., the e-commerce network that includes RitzCamera.com, WolfCamera.com, BoatersWorld.com and other online-shopping sites, saw a 30-percent increase in merchandise revenue for the first quarter of 2008 over the same period last year, it reported in a recent statement.

Much of the growth, however, was attributed to the company’s camera business, not its marine business.

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 credited 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.

In addition to its flagship Web properties RitzCamera.com, WolfCamera.com and BoatersWorld.com, the Ritz Interactive network includes such sites as CameraWorld.com, PhotoAlley.com, eAngler.com, OuterBanksOutfitters.com, and ShopAtShark.com.