DENVER, April 26, 2016 /PRNewswire/ -- eBags today announced record quarterly sales growth for its first fiscal 2016 quarter. Revenue growth was ~20% ahead of prior year, margins grew by over 25%, and profits were up by over 200%.
"Our strong sales and strong margins indicate we are making progress across our leading strategic initiatives, said Mike Edwards, Chief Executive Officer at eBags. "We had significant growth in the eBags Brand product performance, Deal of the Day sales, and gained traction with new categories such as active wear, connected travel, wearable technologies, audio, music and shoes."
The eBags brand product category enjoyed significant growth of over 30% in Q1, which included strong revenue growth with key partners, including Jet.com, Amazon and ebay.
eBags has made critical investments in marketing, merchandising, and IT organizations to ensure execution of their core strategic goals.
In addition to adding over 200 new brands since Q4 of last year, eBags recently launched a mobile app, which is the first step in linking a traveler's bag to the eBags travel tag and other digital assets that will keep travelers connected through all of their lives' journeys. The company has also gained meaningful lift through expanding internationally, and is now exceeding sales targets in over 180 countries.
"The first quarter performance at eBags was very positive, said Edwards. "We are encouraged that our growth strategy is taking hold and remain committed to growing our relationships with merchant partners and embracing the challenges and opportunities of serving a connected customer in a mobile and digital market landscape."
About eBags
With more than 17 years in travel and 25 million bags sold, eBags is the leading online retailer of luggage, backpacks and accessories. The company is devoted to helping its customers find the perfect travel gear for any journey. eBags features 67,000 products from 600 brands, including Tumi, Samsonite, Kenneth Cole, Patagonia, North Face and more. For more information, visit www.eBags.com.
Logo - http://photos.prnewswire.com/prnh/20160203/329613LOGO
SOURCE eBags, Inc.
Share this article