UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 10-Q

|X|   QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES
      EXCHANGE ACT OF 1934

                 For the Quarterly Period Ended April 29, 2006

                                       OR

|_|   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
      EXCHANGE ACT OF 1934

            For the transition period from __________ to __________.

                         Commission file number: 0-19714

                              E COM VENTURES, INC.
             (Exact name of Registrant as specified in its charter)

                 Florida                                    65-0977964
     (State or other jurisdiction of                     (I.R.S. Employer
     incorporation or organization)                    Identification No.)

        251 International Parkway
            Sunrise, Florida                                  33325
(Address of principal executive offices)                    (Zip Code)

       Registrant's telephone number, including area code: (954) 335-9100

Indicate by check mark whether the Registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding 12 months (or for such  shorter  period that the  Registrant  was
required  to file  such  reports),  and  (2) has  been  subject  to such  filing
requirements for the past 90 days.

                                 Yes |X| No |_|

Indicate by check mark whether the Registrant is a large  accelerated  filer, an
accelerated  filer or a  non-accelerated  filer.  See definition of "accelerated
filer and large accelerated filer" in Rule 12b-2) of the Exchange Act.

Large Accelerated Filer  |_| Accelerated Filer  |_| Non-Accelerated Filer  |X|

Indicate by check mark whether the Registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act).
                                  Yes |_| No|X|

The number of shares  outstanding of the  registrant's  common stock,  as of the
latest practicable date: At June 9, 2006 there were 2,990,291 outstanding shares
of its common stock, $0.01 par value.

<PAGE>

                                TABLE OF CONTENTS

                      E COM VENTURES, INC. AND SUBSIDIARIES

                                     PART I
                              FINANCIAL INFORMATION

ITEM 1    FINANCIAL STATEMENTS (unaudited).....................................3

          Condensed Consolidated Balance Sheets................................3
          Condensed Consolidated Statements of Operations......................4
          Condensed Consolidated Statements of Cash Flows......................5
          Notes to Condensed Consolidated Financial Statements.................6

ITEM 2    MANAGEMENT'S DISCUSSION AND ANALYSIS OF CONSOLIDATED
          FINANCIAL CONDITION AND RESULTS OF OPERATIONS.......................10

ITEM 3    QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT
          MARKET RISK.........................................................12

ITEM 4    CONTROLS AND PROCEDURES.............................................12

                                     PART II
                                OTHER INFORMATION

ITEM 1    LEGAL PROCEEDINGS...................................................12

ITEM 2    UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF
          PROCEEDS............................................................12

ITEM 3    DEFAULTS UPON SENIOR SECURITIES.....................................12

ITEM 4    SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.................12

ITEM 5    OTHER INFORMATION...................................................13

ITEM 6    EXHIBITS............................................................13

SIGNATURES....................................................................14

CERTIFICATIONS................................................................15


                                       2
<PAGE>

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

                      E COM VENTURES, INC. AND SUBSIDIARIES
                      CONDENSED CONSOLIDATED BALANCE SHEETS
                                   (Unaudited)

<TABLE>
<CAPTION>
ASSETS:                                                   April 29, 2006      January 28, 2006
                                                         ----------------     ----------------
<S>                                                      <C>                  <C>
Current assets:
Cash and cash equivalents                                $      1,201,121     $      1,260,444
Trade receivables, no allowance required                        1,001,365              819,072
Deferred tax asset                                              5,831,744            5,343,839
Inventories, net                                               83,416,117           72,976,845
Prepaid expenses and other current assets                       1,116,523              950,146
                                                         ----------------     ----------------
  Total current assets                                         92,566,870           81,350,346

Property and equipment, net                                    25,691,490           25,308,899
Goodwill                                                        1,904,448            1,904,448
Deferred tax asset                                              4,935,161            4,935,161
Other assets, net                                                 418,479              457,627
                                                         ----------------     ----------------
  Total assets                                           $    125,516,448     $    113,956,481
                                                         ================     ================

LIABILITIES AND SHAREHOLDERS' EQUITY:

Current liabilities:
Bank line of credit                                      $     33,531,195     $     20,147,978
Accounts payable, non-affiliates                               16,921,845           13,470,670
Accounts payable, affiliates                                   24,968,274           26,905,433
Accrued expenses and other liabilities                          5,722,154            7,973,168
Current portion of obligations under capital leases               318,776              322,284
                                                         ----------------     ----------------
  Total current liabilities                                    81,462,244           68,819,533

Subordinated convertible note payable - affiliate               5,000,000            5,000,000
Long-term portion of obligations under capital leases           7,823,489            7,898,354
                                                         ----------------     ----------------
  Total liabilities                                            94,285,733           81,717,887
                                                         ----------------     ----------------

Commitments and contingencies (see Note 5)

Shareholders' equity:
Preferred stock, $.10 par value, 1,000,000
   shares authorized, none issued                                      --                   --
Common stock, $.01 par value, 6,250,000 shares
   authorized; 3,885,040 and 3,857,216 shares issued
   in fiscal years 2006 and 2005, respectively                     38,851               38,572
Additional paid-in capital                                     78,547,828           78,260,686
Treasury stock, at cost, 898,249 shares                        (8,576,944)          (8,576,944)
Accumulated deficit                                           (38,779,020)         (37,483,720)
                                                         ----------------     ----------------
  Total shareholders' equity                                   31,230,715           32,238,594
                                                         ----------------     ----------------
  Total liabilities and shareholders' equity             $    125,516,448     $    113,956,481
                                                         ================     ================
</TABLE>


     See accompanying notes to condensed consolidated financial statements.


                                       3
<PAGE>

                      E COM VENTURES, INC. AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                         Thirteen Weeks     Thirteen Weeks
                                                             Ended              Ended
                                                         April 29, 2006     April 30, 2005
                                                         --------------     --------------
<S>                                                      <C>                <C>
Net sales                                                $   46,068,987     $   43,277,885
Cost of goods sold                                           26,910,203         25,414,410
                                                         --------------     --------------
Gross profit                                                 19,158,784         17,863,475
                                                         --------------     --------------

Operating expenses:
  Selling, general and administrative                        18,782,037         17,662,419
  Depreciation and amortization                               1,134,047          1,408,507
                                                         --------------     --------------
    Total operating expenses                                 19,916,084         19,070,926
                                                         --------------     --------------

Loss from operations                                           (757,300)        (1,207,451)
Interest expense, net                                          (972,000)          (858,463)
                                                         --------------     --------------
  Loss before income taxes                                   (1,729,300)        (2,065,914)
  Income tax benefit                                            434,000                 --
                                                         --------------     --------------
  Net loss                                               $   (1,295,300)    $   (2,065,914)
                                                         ==============     ==============

Net loss per common share:
  Basic                                                  $        (0.44)    $        (0.70)
                                                         ==============     ==============
  Diluted                                                $        (0.44)    $        (0.70)
                                                         ==============     ==============

Weighted average number of common shares outstanding:
  Basic                                                       2,960,199          2,938,594
                                                         ==============     ==============
  Diluted                                                     2,960,199          2,938,594
                                                         ==============     ==============
</TABLE>


     See accompanying notes to condensed consolidated financial statements.


                                       4
<PAGE>

                      E COM VENTURES, INC. AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                         Thirteen Weeks     Thirteen Weeks
                                                             Ended              Ended
                                                         April 29, 2006     April 30, 2005
                                                         --------------     --------------
<S>                                                      <C>                <C>
Cash flows from operating activities:
Net loss                                                 $   (1,295,300)    $   (2,065,914)
Adjustments to reconcile net loss to net cash
      used in operating activities:
Addition to deferred tax assets                                (487,905)                --
Depreciation and amortization                                 1,134,047          1,408,507
Change in operating assets and liabilities:
   Trade receivables                                           (182,293)          (491,812)
   Inventories                                              (10,439,272)        (4,581,398)
   Prepaid expenses and other assets                           (127,399)          (107,537)
   Accounts payable, non-affiliates                           3,451,175           (666,250)
   Accounts payable, affiliates                              (1,937,159)         5,115,902
   Accrued expenses and other liabilities                    (2,251,014)        (1,169,138)
                                                         --------------     --------------
Net cash used in operating activities                       (12,135,120)        (2,557,640)
                                                         --------------     --------------

Cash flows from investing activities:
   Additions to property and equipment                       (1,516,468)        (1,745,776)
                                                         --------------     --------------
Net cash used in investing activities                        (1,516,468)        (1,745,776)
                                                         --------------     --------------

Cash flows from financing activities:
   Net borrowings under bank line of credit                  13,383,217          4,803,298
   Principal payments under capital lease obligations           (78,373)           (67,646)
   Proceeds from exercise of stock options                      287,421             17,040
                                                         --------------     --------------
Net cash provided by financing activities                    13,592,265          4,752,692
                                                         --------------     --------------
(Decrease) increase in cash and cash equivalents                (59,323)           449,276
Cash and cash equivalents at beginning of period              1,260,444          1,249,543
                                                         --------------     --------------
Cash and cash equivalents at end of period               $    1,201,121     $    1,698,819
                                                         ==============     ==============
</TABLE>


     See accompanying notes to condensed consolidated financial statements.


                                       5
<PAGE>

                      E COM VENTURES, INC. AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

NOTE 1 - OPERATIONS AND BASIS OF PRESENTATION

      E Com Ventures,  Inc., a Florida  corporation  ("ECOMV" or the "Company"),
performs  all  of  its  operations   through  two   wholly-owned   subsidiaries,
Perfumania,  Inc.  ("Perfumania"),  a Florida corporation,  which is a specialty
retailer and wholesaler of fragrances and related products,  and perfumania.com,
Inc.,  ("perfumania.com"),  a Florida corporation, which is an Internet retailer
of fragrances and other specialty items.

      Perfumania is a leading specialty retailer and wholesale  distributor of a
wide  range of brand  name  and  designer  fragrances.  As of  April  29,  2006,
Perfumania  operated a chain of approximately 240 retail stores  specializing in
the sale of fragrances at discounted  prices up to 75% below the  manufacturers'
suggested retail prices.  Perfumania's wholesale division distributes fragrances
and  related  products  primarily  to  an  affiliate.  Perfumania.com  offers  a
selection of the Company's more popular  products for sale over the Internet and
serves as an alternative shopping experience to the Perfumania retail stores.

      The condensed  consolidated  financial  statements include the accounts of
ECOMV and subsidiaries (collectively,  the "Company"). All material intercompany
balances and transactions have been eliminated in consolidation.

      The accompanying  unaudited condensed  consolidated  financial  statements
have  been  prepared  in  accordance  with  the  rules  and  regulations  of the
Securities and Exchange  Commission  (the "SEC").  Certain  information and note
disclosures  normally  included  in annual  financial  statements,  prepared  in
accordance with accounting principles generally accepted in the United States of
America, have been condensed or omitted pursuant to those rules and regulations.
The financial information presented herein, which is not necessarily  indicative
of results to be expected for the current fiscal year,  reflect all  adjustments
which,  in the opinion of management,  are necessary for a fair  presentation of
the  interim  unaudited  condensed  consolidated  financial  statements.  It  is
suggested  that these  condensed  consolidated  financial  statements be read in
conjunction with the financial  statements and the notes thereto included in our
Annual  Report on Form 10-K for the fiscal year ended  January 28,  2006,  filed
with the SEC on April 28, 2006.

NOTE 2 - ACCOUNTING FOR SHARE-BASED PAYMENT

      The Company has two stock  option  plans  which  provide for  equity-based
awards to its  employees and directors  (collectively,  the "Plans").  Under the
Plans, the Company has reserved approximately  1,000,000 shares of common stock,
of which approximately 582,000 options have been granted and 212,000 options are
outstanding.  All stock options have an exercise price that is equal to the fair
market value of the Company's  stock on the date the options were  granted.  The
term of the stock option awards is ten years from the date of grant. All options
are fully  vested.  Prior to the  January  29, 2006  adoption  of  Statement  of
Financial  Accounting  Standards  ("SFAS") No. 123R "Share Based Payment" ("SFAS
123R"),  the Company accounted for stock-based  compensation using the intrinsic
value  method  prescribed  in  Accounting   Principles  Board  Opinion  No.  25,
"Accounting for Stock Issued to Employees" ("APB 25"). Accordingly,  because the
stock  option  price  equaled  the  market  price  on  the  date  of  grant,  no
compensation expense was recognized by the Company for stock-based compensation.
As permitted by SFAS No. 123,  "Accounting for Stock-Based  Compensation" ("SFAS
No. 123"),  stock-based  compensation  was included as a pro forma disclosure in
the notes to the consolidated  financial statements.  SFAS No. 123R revises SFAS
No. 123 and supersedes APB 25.

      Effective  January 29, 2006,  the beginning of the Company's  first fiscal
quarter of 2006, the Company  adopted the fair value  recognition  provisions of
SFAS No. 123R,  using the  modified-prospective  transition  method.  Under this
transition method, share based compensation expense is required to be recognized
in the  consolidated  financial  statements for stock options which are granted,
modified or vested  subsequent  to January 29, 2006.  The  compensation  expense
recognized  will include the estimated  expense for stock options granted on and
subsequent to January 29, 2006,  based on the grant date fair value estimated in
accordance  with the provisions of SFAS No. 123R, and the estimated  expense for
the portion  vesting in the period for options  granted prior to, but not vested
as of  January  28,  2006,  based on the grant  date  fair  value  estimated  in
accordance  with the  original  provisions  of SFAS No.  123.  Results for prior
periods have not been restated,  as provided for under the  modified-prospective
method.


                                       6
<PAGE>

The following is a summary of  stock-based  activity  during the thirteen  weeks
ended April 29, 2006:

<TABLE>
<CAPTION>
                                                                     Weighted
                                                       Weighted       Average
                                                       Average       Remaining      Aggregate
                                       Number of       Exercise     Contractual     Intrinsic
                                        Shares          Price          Life           Value
                                      -----------    -----------    -----------    -----------
<S>                                       <C>        <C>                   <C>     <C>
Outstanding as of January 28, 2006        239,788    $     10.27           7.29    $ 1,549,028

Granted                                        --             --             --             --

Exercised                                  27,824    $     10.33           7.36        304,582

Forfeited                                      --             --             --             --

                                      -----------    -----------    -----------    -----------
Outstanding as of April 29, 2006          211,964    $     10.26           7.22    $ 2,470,760
                                      ===========    ===========    ===========    ===========

                                      -----------    -----------    -----------    -----------
Exercisable as of April 29, 2006          211,964    $     10.26           7.22    $ 2,470,760
                                      ===========    ===========    ===========    ===========
</TABLE>

      During the  thirteen  weeks  ended  April 29,  2006,  the  Company did not
recognize any share based  compensation  expense in the  consolidated  financial
statements since no stock options were granted nor were there any  modifications
of outstanding stock options during the thirteen week period.  In addition,  all
stock options outstanding as of January 28, 2006 were fully vested.

      The  following  table shows the effect on net loss and net loss per common
share for the thirteen  week period ended April 30, 2005 had  compensation  cost
been  recognized  based upon the estimated fair value on the grant date of stock
options in accordance  with SFAS No 123, as amended by SFAS No. 148  "Accounting
for Stock-Based Compensation - Transition and Disclosure".

                                                                 Thirteen Weeks
                                                                     Ended
                                                                 April 30, 2005
                                                                 --------------

Net loss                                                         $   (2,065,914)

Deduct: Total  stock based employee compensation
   expense determined under fair market value
   based method, net of tax                                             (19,604)
                                                                 --------------


Proforma net loss                                                $   (2,085,518)
                                                                 ==============

Proforma net loss per share:

  Basic                                                          $        (0.70)
                                                                 ==============
  Diluted                                                        $        (0.70)
                                                                 ==============


                                       7
<PAGE>

      The fair value for these stock  options was estimated at the date of grant
using a Black-Scholes  option pricing model with the following  weighted average
assumptions:

                                                                 Thirteen Weeks
                                                                     Ended
                                                                 April 30, 2005
                                                                 --------------

                Expected life (years)                                         7
                Expected volatility                                        164%
                Risk-free interest rates                                  3.97%
                Dividend yield                                               0%

      The expected life of the options  represents the estimated  period of time
until exercise and is based on historical  experience of similar awards,  giving
consideration to the contractual  terms,  vesting  schedules and expectations of
future  employee  behavior.  The  expected  volatility  is  estimated  using the
historical  volatility of the Company's  stock.  The risk-free  interest rate is
based on the implied yield available on U.S. Treasury zero coupon issues with an
equivalent  term.  The Company has not paid  dividends  in the past and does not
intend to in the foreseeable future.

NOTE 3  - BANK LINE OF CREDIT AND CONVERTIBLE NOTE PAYABLE, AFFILIATE

      The bank line of credit and convertible note payable,  affiliate  consists
of the following:

<TABLE>
<CAPTION>
                                                                              April 29, 2006     January 28, 2006
                                                                             ----------------    ----------------
<S>                                                                          <C>                 <C>
Bank line of credit, which is classified as a current liability, interest
  payable monthly, secured by a pledge of substantially all
  of Perfumania's assets                                                     $     33,531,195    $     20,147,978
                                                                             ================    ================

Subordinated convertible note payable affiliate - long term                  $      5,000,000    $      5,000,000
                                                                             ================    ================
</TABLE>

      Perfumania's  senior secured credit facility provides for borrowings of up
to $60 million  depending on the Company's  levels of eligible  inventories.  As
April 29, 2006, $33.5 million was outstanding under the line of credit and $13.8
million was available to support normal working capital  requirements  and other
general  corporate  purposes.  Advances  under the line of credit are based on a
formula of eligible  inventories  and bear  interest at a floating  rate ranging
from (a) prime to prime plus 1.25% or (b) LIBOR plus 2.5% to 3.75%  depending on
a financial  ratio test.  Advances  are secured by a first lien on all assets of
Perfumania.  The credit facility contains limitations on additional  borrowings,
capital expenditures and other items, and contains various covenants including a
fixed charge coverage ratio, a leverage ratio and capital  expenditure limits as
defined.  The  credit  facility  expires  in May  2007.  As of April  29,  2006,
Perfumania  was in  compliance  with its covenant  requirements.  The  Company's
management is currently negotiating an extension of this credit facility.

      In  the  fourth  quarter  of  fiscal  year  2004,  the  Company  issued  a
Subordinated  Convertible  Note  (the  "Note")  in  exchange  for  a  $5,000,000
subordinated  secured  demand loan made to the  Company in the first  quarter of
fiscal year 2004 by Glenn and Stephen Nussdorf (the "Nussdorfs").  The Nussdorfs
own  approximately  39% of the Company's  outstanding  common stock and they are
officers and principals of Quality King  Distributors,  Inc.  ("Quality  King").
Stephen  Nussdorf  is the  Chairman of the  Company's  Board of  Directors.  The
initial maturity of the Note was January 2007;  however the Note was modified in
April 2006 to extend the due date.  The Note  bears  interest  at the prime rate
plus 1%,  requires  quarterly  interest  payments  and is  secured by a security
interest in the Company's assets pursuant to a Security Agreement,  by and among
the Company and the Nussdorfs. There are no prepayment penalties and the Note is
subordinate  to all bank  related  indebtedness.  The Note is payable in January
2009 and allows the  Nussdorfs to convert the Note into shares of the  Company's
common stock at a conversion  price of $11.25,  which equals the closing  market
price of the Company's common stock on the date of the exchange.


                                       8
<PAGE>

NOTE 4 - BASIC AND DILUTED LOSS PER COMMON SHARE

      Basic loss per common share has been  computed by dividing net loss by the
weighted average number of common shares  outstanding during the period. For all
periods  presented in the  accompanying  condensed  consolidated  statements  of
operations,  incremental  shares  attributed  to  outstanding  stock options and
convertible notes were not included because the results would be anti-dilutive.

NOTE 5 - CONTINGENCIES

      The Company is  involved  in various  legal  proceedings  in the  ordinary
course of business.  Management  cannot  presently  predict the outcome of these
matters,  although  management  believes  that the ultimate  resolution of these
matters will not have a materially  adverse  effect on the  Company's  financial
position.

NOTE 6 - RELATED PARTY TRANSACTIONS

      Parlux Fragrances,  Inc.  ("Parlux") owns 378,102 shares, or approximately
13%, of the Company's outstanding common stock. Purchases of product from Parlux
and Quality  King were  approximately  $14.2  million and $10.5  million for the
first thirteen weeks of fiscal years 2006 and 2005,  respectively,  representing
approximately  38% and  36%,  respectively,  of the  Company's  total  inventory
purchases.  The amount due to related parties at April 29, 2006 is approximately
$25.0 million,  resulting from inventory purchases,  is non-interest bearing and
is  included in  accounts  payable,  affiliates  in the  accompanying  condensed
consolidated  balance  sheets.  Purchases  from  related  parties are  generally
payable in 90 days,  however,  due to the seasonality of the Company's business,
these terms are  sometimes  extended.  Related party  accounts are  historically
brought  closer  to  terms at the end of the  holiday  season,  however,  we are
dependent upon these extended terms for much of our liquidity during the year.

      During the first thirteen weeks of fiscal 2006 and 2005, respectively, the
Company  sold   approximately   $3.9  million  and  $3.3  million  of  wholesale
merchandise  to Quality King. The amount due from Quality King at April 29, 2006
was  approximately  $1,500  and  is  included  in  trade  receivables,   in  the
accompanying condensed consolidated balance sheets.

NOTE 7 - SEGMENT INFORMATION

      Segment  information  is  prepared  on the same basis  that the  Company's
management reviews financial  information.  The Company operates in two industry
segments,  specialty  retail sales and wholesale  distribution of fragrances and
related  products.  Retail  sales  include  sales  through  our  Internet  site,
perfumania.com.  Substantially  all  wholesale  sales are to Quality  King.  The
accounting  policies  of the  segments  are the same as those  described  in the
summary  of  significant  accounting  policies  in  Note 2 of the  Notes  to our
Consolidated  Financial  Statements  included in our 2005 Annual  Report on Form
10-K.  The  Company  does not  allocate  operating  and  other  expenses  to its
segments.  Financial  information  for  these  segments  is  summarized  in  the
following table.

                                              Thirteen Weeks      Thirteen Weeks
                                                  Ended               Ended
                                              April 29, 2006      April 30, 2005
                                              --------------      --------------

Net sales:
     Retail                                   $   42,208,247      $   39,936,425
     Wholesale                                     3,860,740           3,341,460
                                              --------------      --------------
                                              $   46,068,987      $   43,277,885
                                              ==============      ==============

Gross profit:
     Retail                                   $   18,901,564      $   17,652,601
     Wholesale                                       257,220             210,874
                                              --------------      --------------
                                              $   19,158,784      $   17,863,475
                                              ==============      ==============


                                       9
<PAGE>

NOTE 8 - NON CASH TRANSACTIONS

      Supplemental  disclosures of non-cash  investing and financing  activities
are as follows:

<TABLE>
<CAPTION>
                                                       For the Thirteen Weeks Ended
                                                     --------------------------------
                                                     April 29, 2006    April 30, 2005
                                                     --------------------------------
<S>                                                  <C>               <C>
Accrued compensation for President and
   Chief Executive Officer contributed to capital    $           --    $      406,000

Cash paid during the period for interest             $      879,347    $      787,654
</TABLE>

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF CONSOLIDATED FINANCIAL
        CONDITION AND RESULTS OF OPERATIONS

RESULTS OF OPERATIONS

Comparison  of the Thirteen  Weeks Ended April 29, 2006 with the Thirteen  Weeks
Ended April 30, 2005.

      Net sales increased 6.5% from $43.3 million in the first thirteen weeks of
fiscal  year 2005 to $46.1  million in the first  thirteen  weeks of fiscal year
2006.  The increase in sales was  primarily  due to a $2.3  million  increase in
retail store sales combined with a $0.5 million increase in wholesale sales.

      Retail  sales were $42.2  million for the first  thirteen  weeks of fiscal
year 2006 compared to $39.9 million for the first  thirteen weeks of fiscal year
2005.  This 5.7%  increase  was  partially  due to the increase in the number of
stores  operated.  The average  number of stores  operated  was 239 in the first
quarter of fiscal year 2006, versus 224 in the prior year's  comparable  period.
Retail sales also increased as a result of Perfumania's  comparable  store sales
improvement  of 2% in the  first  thirteen  weeks of  fiscal  year 2006 over the
corresponding  period in the prior year.  Comparable  store sales  measure sales
from stores that have been open for one year or more. The increase in comparable
store sales is due to improved  selection  and  quality of  inventory,  with the
resultant increase in sales volume, during the first quarter of fiscal year 2006
compared to the first quarter of fiscal year 2005.

      Wholesale  sales were $3.9 million for the first  thirteen weeks of fiscal
year 2006 compared to $3.3 million for the first  thirteen  weeks of fiscal year
2005. All wholesale  sales during the first quarter of fiscal year 2006 and 2005
were made to Quality King, an affiliate of the Company. The Company, through its
supplier  relationships,  is able to obtain certain merchandise at better prices
and quantities than Quality King.

      Gross profit increased 7.3% from $17.9 million in the first thirteen weeks
of fiscal  year 2005  (41.3% of total net  sales) to $19.2  million in the first
thirteen  weeks of fiscal year 2006 (41.6% of total net sales).  The increase in
gross profit was due to the  increase in retail  sales.  As a percentage  of net
sales,  total  gross  profit in the  first  thirteen  weeks of fiscal  year 2006
increased  as  compared  to the first  thirteen  weeks of fiscal  year 2005 as a
result of reduced cost of inventory  purchases driven by a greater  availability
of merchandise in the fragrance industry.

      Selling,  general and  administrative  expenses  increased 6.3% from $17.7
million in the first  thirteen weeks of fiscal year 2005 to $18.8 million in the
first thirteen weeks of fiscal year 2006. The increase was largely  attributable
to increased  occupancy and compensation costs resulting from an increase in the
number of  stores  operated.  There  were an  average  of 15  additional  stores
operated  in the first  quarter  of fiscal  year 2006,  versus the prior  year's
comparable period. Depreciation and amortization were approximately $1.1 million
in the first thirteen weeks of fiscal year 2006 compared to $1.4 million for the
first  thirteen  weeks of fiscal year 2005.  The reduction in  depreciation  and
amortization  was  largely  due to  software  costs  associated  with  year 2000
upgrades that are now fully amortized.

      Interest expense,  net was $972,000 for the first thirteen weeks of fiscal
year 2006 compared with  approximately  $858,000 in the first  thirteen weeks of
fiscal year 2005.  The increase in interest  expense was primarily due to higher
interest rates.


                                       10
<PAGE>

      An  income  tax  benefit  of  $434,000  was  recorded  as a result  of the
Company's  net loss  during the first  quarter of fiscal  year 2006.  The amount
represents net operating loss  carryforwards  that  management has determined is
more likely than not to be utilized to offset future taxable income.

      As a result of the  foregoing,  our net loss  decreased to $1.3 million in
the first  thirteen  weeks of fiscal  year 2006  compared  to a net loss of $2.1
million in the first  thirteen weeks of fiscal year 2005. Net loss per share for
the first  thirteen  weeks of fiscal year 2006 and fiscal year 2005 was ($0. 44)
and ($0.70), respectively.

LIQUIDITY AND CAPITAL RESOURCES

      Our principal  capital  requirements  are to fund  Perfumania's  inventory
purchases,  renovate existing stores,  and selectively open new stores.  For the
first thirteen weeks of fiscal year 2006, these capital  requirements  generally
were satisfied through borrowings under our credit facility.

      At April 29, 2006, we had working capital of  approximately  $11.1 million
compared to working capital of  approximately  $12.5 million at January 28, 2006
and $0.3  million at April 30,  2005.  The change  since  January  28,  2006 was
primarily due to the net loss during the current period,  increased  spending on
store  construction  and  renovation  and an increase in  borrowings  due to the
seasonality of our business.

      Net cash used in  operating  activities  during the  thirteen  weeks ended
April 28, 2006 was approximately  $12.1 million compared with approximately $2.6
million for the same period of the prior year. We began the current  fiscal year
with  approximately  $6.0 million less in inventory  than in the prior year. The
increase in cash used in  operating  activities  was  primarily  to increase our
inventory levels in anticipation of certain planned promotions during the second
quarter compared with our inventory needs of the prior year.

      Net cash used in investing  activities was  approximately  $1.5 million in
the first  thirteen  weeks of fiscal year 2006  compared to $1.7  million in the
first  thirteen  weeks of fiscal  year  2005.  The  current  period's  investing
activities  primarily  represented  spending for store remodels and renovations,
new store  completions and  construction in progress on new stores scheduled for
completion   during  the  second  quarter  of  fiscal  year  2006.   There  were
approximately  25 stores  remodeled during the first quarter of fiscal year 2006
compared to 2 stores in the first fiscal  quarter of the prior year.  During the
thirteen  weeks  ended  April  29,  2006,  Perfumania  opened 2 new  stores  and
relocated an existing store compared to 4 new stores in the first quarter of the
prior year. Our focus is on improving the  profitability  of existing stores and
selectively  opening new stores. We plan to open approximately 30 new stores and
close approximately 5 stores during the remainder of fiscal year 2006.

      Net cash provided by financing  activities during the thirteen weeks ended
April 28, 2006 was approximately  $13.6 million compared with approximately $4.8
million for the same period of the prior year.  We borrowed an  additional  $8.6
million on our bank line of credit to satisfy several inventory accounts payable
and accrued expenses that came due.

      We believe that our cash balances,  the available borrowing capacity under
our credit facility, continued extended credit terms from our affiliates and the
projected future operating results will generate sufficient liquidity to support
the  Company's  needs  for the  next  twelve  months,  however  there  can be no
assurance that our plans will be successful.

CRITICAL ACCOUNTING POLICIES

      Our  condensed  consolidated  financial  statements  have been prepared in
accordance with accounting principles generally accepted in the United States of
America for  interim  information.  Presentation  of these  statements  requires
management to make judgments and estimates.  As such, some  accounting  policies
have a significant impact on amounts reported in these financial statements. The
judgments  and  estimates  made can  significantly  affect  results.  Materially
different  amounts  would be reported  under  different  conditions  or by using
different  assumptions.  A summary of those critical  accounting policies can be
found in our 2005 Annual Report on Form 10-K.


                                       11
<PAGE>

FORWARD LOOKING STATEMENTS

      Some of the  statements in this  quarterly  report,  including  those that
contain  the  words  "anticipate,"   "believe,"  "plan,"  "estimate,"  "expect,"
"should,"  "intend,"  and  other  similar   expressions,   are  "forward-looking
statements' within the meaning of the Private  Securities  Litigation Reform Act
of 1995.  Those  forward-looking  statements  involve  known and unknown  risks,
uncertainties  and other factors that may cause our actual results,  performance
or  achievements  of those of our industry to be materially  different  from any
future  results,  performance  or  achievements  expressed  or  implied by those
forward-looking  statements.  Among the factors that could cause actual results,
performance or achievement to differ  materially from those described or implied
in the forward-looking statements are our ability to service our obligations and
refinance our credit  facility on acceptable  terms,  our ability to comply with
the covenants in our credit facility,  general economic  conditions  including a
continued  decrease  in  discretionary   spending  by  consumers,   competition,
potential  technology changes,  changes in or the lack of anticipated changes in
the  regulatory  environment  in  various  countries,   the  ability  to  secure
partnership or joint-venture  relationships with other entities,  the ability to
raise additional capital to finance expansion, the risks inherent in new product
and service  introductions  and the entry into new geographic  markets and other
factors included in our filings with the Securities and Exchange Commission (the
"SEC"),  including  the Risk Factors  included in our 2005 Annual Report on From
10-K filed with the SEC. Those Risk Factors  contained in our 2005 Annual Report
on Form 10-K are  incorporated  herein by this reference to them.  Copies of our
SEC filings are available  from the SEC or may be obtained upon request from us.
We do not undertake any obligation to update the information  contained  herein,
which speaks only as of this date.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISKS

      During the  quarter  ended  April 29,  2006,  there have been no  material
changes in the information  about our market risks as of January 28, 2006 as set
forth in Item 7A of the 2005 Form 10-K.

ITEM 4. CONTROLS AND PROCEDURES

      Our Chief Executive  Officer and Chief  Financial  Officer have concluded,
based on their evaluation as of April 29, 2006, that our disclosure controls and
procedures are effective. During the preparation of the financial statements for
the fiscal year ended January 28, 2006,  and as a result of updates in projected
taxable  income  we  changed  our  assessment  of the  need  for  the  valuation
allowances  on deferred tax assets and enhanced the operating  effectiveness  of
our  reconciliation   procedures  surrounding  financial  reporting  related  to
accounting for deferred income taxes. In addition, during the preparation of the
financial  statements  for the first  quarter of fiscal  year 2006,  the Company
enhanced  the design and  operating  effectiveness  of controls  relating to the
determination  of accounting for  modifications of its debt  instruments.  There
have been no additional changes in our internal control over financial reporting
during the quarter ended April 29, 2006 that have  materially  affected,  or are
reasonably  likely to materially  affect,  our internal  control over  financial
reporting.

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

      Not applicable.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

      Not applicable.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

      Not applicable.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

      Not applicable.


                                       12
<PAGE>

ITEM 5. OTHER INFORMATION

      Not applicable.

ITEM 6. EXHIBITS

      Exhibits

      Index to Exhibits

      Exhibit No.

      31.1     Certification by Chief Executive  Officer pursuant to Section 302
               of the Sarbanes-Oxley Act of 2002.

      31.2     Certification by Chief Financial  Officer pursuant to Section 302
               of the Sarbanes-Oxley Act of 2002.

      32.1     Certification by Chief Executive  Officer pursuant to Section 906
               of the Sarbanes-Oxley Act of 2002.

      32.2     Certification by Chief Financial  Officer pursuant to Section 906
               of the Sarbanes-Oxley Act of 2002.


                                       13
<PAGE>

                              E COM VENTURES, INC.

                                   SIGNATURES

Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
registrant  has duly  caused  the  report  to be  signed  on its  behalf  by the
undersigned, thereunto duly authorized.


                                                   E COM VENTURES, INC.
                                           -------------------------------------
                                                       (Registrant)


Date: June 9, 2006                    By:  By: /S/ Michael W. Katz
                                           -------------------------------------
                                           Michael W. Katz
                                           President and Chief Executive Officer
                                           (Principal Executive Officer)

                                      By:  By: /S/ A. Mark Young
                                           -------------------------------------
                                           A. Mark Young
                                           Chief Financial Officer
                                           (Principal Financial and
                                           Accounting Officer)


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