DENVER, Jan. 3 /PRNewswire/ -- eBags.com announced its third straight
positive cash flow quarter and its first ever GAAP profitable quarter
(includes non-cash expenses such as depreciation and amortization). The
company also disclosed record holiday sales, up 101% versus the prior holiday
period. Luggage, business cases, travel accessories, and urban gear
experienced the largest sales gains.
Jon Nordmark, CEO of eBags.com, commented, "eBags is proud to be one of
the few online retailers to achieve sustained profitability." He continued,
"to have sales increase over 100% during the holidays is a testament to a
great team as well as a dynamic and scaleable business model, especially
during such a disappointing holiday season for the overall retail sector."
Mike Frazzini, Vice President of IT, added, "what was especially rewarding
was that visitors to the eBags.com site purchased at a rate that was
86% higher than last year, validating that the site enhancements we made led
to a better shopping experience."
In addition, eBags.com recently announced a partnership with TUMI, the
leading brand of prestige luggage and accessories, to develop and maintain
TUMI's e-commerce initiative ( www.tumi.com ). eBags.com also recently
launched a strategic alliance with Amazon.com whereby over 6,000 eBags
products are currently sold on the Amazon.com apparel and accessories store.
eBags.com is the world's leading online provider of bags and accessories
for all lifestyles. With over 150 brands and 7,000+ products, eBags.com has
sold over 1.6 million bags since launching March 1999. From luggage to
backpacks, handbags to business cases, eBags.com offers well-known brands
including Samsonite, JanSport, The North Face, Liz Claiborne, and Adidas.
eBags.com was named "Website of the Year" by Catalog Age Magazine for the
second year in a row and "Email Marketer of the Year" by ClickZ/MessageMedia.
eBags.com is funded by Benchmark Capital, Technology Crossover Ventures, and
Amerindo. Additional information can be found at www.ebags.com .