Buy4Now Announces Further Expansion in US Market

Dublin, Ireland (PRWEB) October 18, 2006

Buy4Now, Ireland’s online shopping centre and international e-tail solutions provider, through its trading arm Buy4Now etail solutions, announced today 16th January 2006 a further expansion of its growing business in the United States with the launch of Waldbaums online grocery offering on Long Island New York . This is the third chain of grocery stores that Buy4Now has successfully launched with online shopping in the past 15 months and makes Buy4Now a significant player in the supply of eGrocery software and services in the highly lucrative US e-grocery market in the United States valued at in excess of $2.5 billion.

Waldbaums, a supermarket chain with 53 stores on Long Island in Nassau and Suffolk Counties, is operated by The Great Atlantic & Pacific Tea Company, Inc. (A&P), a $6.5 billion U.S. retailer which in October 2004 engaged Buy4Now as its exclusive partner for the provision of e-Grocery solutions.

Online grocery shopping is a growing factor in the U.S., currently accounting for 1% of total grocery volume. Its development is especially significant in urban markets, and is in the future expected to reflect as much as 3% of total grocery sales volume in most large MSAs (Metropolitan Statistical Areas). A&P has now positioned its Waldbaum’s and The Food Emporium banners to capitalize on this significant business opportunity in partnership with Buy4Now.

Buy4Now in November 2005, was also appointed as exclusive e-Grocery solutions partner to food retailer, Roche Brothers in Boston.

Ali Murdoch, Chief Executive of Buy4Now said: “In a short period of time, a small independent Irish company has positioned itself as a significant player in the US e-Grocery market. This is an achievement that management of Buy4Now is very proud of and we aim to will build upon it in 2006. We expect to shortly launch the Buy4Now e-GroceryUSA.com website to track activity in this marketplace and we are working with a number of additional grocers across the USA to plan further launches.”

As 31 December, 2005 represents the end of the 3rd quarter fiscal for Buy4Now, the Company also announced today that it has revised year end (31 March, 2006) revenue and profit expectations upwards to €5 million and €615,000 respectively. This will represent revenue and profit growth of 45% and 287% respectively on last year’s performance.

As with its experience in the United States, Buy4Now in Ireland saw a significant increase in interest and usage of the Buy4Now.ie portal. General merchandising sales were up 26% on 2004 for the Christmas quarter. Overall year to date sales among all Buy4Now partner stores in Ireland have increased by 43% and partner sales are expected to exceed €20 million by the fiscal year end. The performance continues to position Buy4Now as the single largest online retailer in the Irish marketplace and Buy4Now remains uniquely Irelands only online shopping centre with 25 partners under one single virtual roof.

Continuing, Ali Murdoch said: “2005 was a seminal year for Buy4Now – we will have delivered our first significant profit contribution on the back of good revenue growth and some exciting new business wins in both Ireland and the US. The surge in online shopping, long promised is finally beginning to happen and Buy4Now is a central part of this drive with most of the Irish Bricks and Mortar retailers having chosen to work with and through the Buy4Now shopping centre. We are very optimistic as we head in to the New Year, that we will capitalise on the success of 2005.”

He concluded: “We will work closely with all our retail partners to provide to the Irish online shopper an exceptional offering in terms of choice and quality of service when they choose to shop with Buy4Now or any one of our 25 partners.”

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