ALISO VIEJO, Calif., July 26, 2004 (PRIMEZONE) -- Buy.com, the Internet Superstore with over 2 Million skus and over 7 Million customers, today announced strong year over year and sequential quarterly growth for the second quarter of 2004. For the quarter ended June 30, 2004, revenues increased by 23% over the second quarter of 2003. Second quarter revenues also grew 8% on a sequential basis over the first quarter of 2004.
"Buy.com continues to grow by focusing on delivering customer satisfaction to its ever-growing group of monthly visitors," said Neel Grover, President of Buy.com. "By working strategically with our vendor partners to secure the best deals online, and by streamlining our marketing efforts with a focus on performance-based advertising, Buy.com continues to gain new customers and marketshare in a competitive marketplace."
In the second quarter of 2004, Buy.com negotiated strategic product deals in several top product categories including digital cameras, camcorders, memory and storage. Buy.com has also negotiated performance-based advertising partnerships with some top publishers on the Internet. The combination of these two factors has led to explosive growth in 2004.
"We are very pleased with our performance and growth this year," stated Robert Price, CFO of Buy.com. "We have structured the company and our resources in such a way as to maximize revenue and minimize cost. This has been accomplished via a strict focus on ROI in our marketing efforts, as well securing compelling products and offers from our vendor partners. Customers are voting with their dollars, and they are electing Buy.com."
About Buy.com
Buy.com(r), The Internet Superstore(tm), offers its over 7 million customers more than 2 million products in a range of categories including computer hardware and software, electronics, cellular products and services, music, DVDs, books, toys and more. Individuals and businesses can shop quickly and easily at Buy.com 24 hours a day, 7 days a week. Buy.com was named one of the Top 50 web sites in 2002 and 2003 by Internet Retailer, the top performing site on Gomez Inc.'s E-Holiday Shopping 2002 Index in the music, electronics and books category (December 2002), "Best Overall Place To Buy Mobile Devices" (January 2002), "Best E-Commerce Site" by PC World magazine (June 2001), "Best Overall Place To Buy" by Computer Shopper Magazine (January 2001), a "Best of the Web" in the computer and electronics category by Forbes Magazine (spring 2000 and fall 2000), and the No. 1 electronics e-tailer in the PowerRankings by Forrester Research, Inc. (November 2000). Buy.com, founded in June 1997, is located in Aliso Viejo, California. For more information, visit www.buy.com. Buy.com(r) and The Internet Superstore(tm) are trademarks of Buy.com, Inc.