May 20, 2008, 12:00 AM

Q1 profit at Buy.com rises 138%

First quarter profit at consumer electronics and entertainment online retailer Buy.com rose 138% to $1.4 million compared to $568,000 a year earlier. This is the retailer’s sixth consecutive profitable quarter, the company says.

First quarter profit at consumer electronics and entertainment online retailer Buy.com rose 138% to $1.4 million compared to $568,000 a year earlier.

"Based on consumer spending on Buy.com, we do not see any evidence of an economic downturn – instead, consumers are looking to the site as a one-stop shopping destination for the best deals on millions of products," says Neel Grover, CEO and president of Buy.com. Grover is speaking at the Internet Retailer Conference & Exhibition, June 9-12 in Chicago, in a session entitled A mainstream strategy for a web-only retailer.

This is the retailer’s sixth consecutive profitable quarter, the company says. Buy.com, launched in 1997, says it has more than 11 million customer accounts.

“As we continue to see gas prices skyrocket around the country, more consumers are realizing they can get their products with free shipping online at Buy.com without ever leaving their home,” says Jeff Wisot, vice president, marketing at Buy.com.

Buy.com is No.33 in the Internet Retailer Top 500 Guide.

comments powered by Disqus

Advertisement

Advertisement

Advertisement

From The IR Blog

FPO

Michael Ringman / E-Commerce

The key role of post-sale service for buyers of IoT products

The complexity inherent in large networks of connected devices brings the contact center front and ...

FPO

Carol Krakowski / E-Commerce

4 customer service takeaways from ‘Cyber Weekend’

Be honest with customers about wait times, and make sure agents have all the information ...

Advertisement