UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 10-Q

                   Quarterly Report Under Section 13 or 15(d)
                     of the Securities Exchange Act of 1934
                     --------------------------------------

                 For the Quarterly Period Ended October 30, 2004
                         Commission File Number 0-19714

                              E COM VENTURES, INC.

                     State of Florida I.R.S. No. 65-0977964

                            251 International Parkway
                             Sunrise, Florida 33325

                        Telephone Number: (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 an accelerated filer (as
defined in Rule 12b-2 of the Exchange Act). YES |_|     NO    |X|

As of December 10, 2004, the registrant had 2,916,849 shares of its common
stock, $0.01 par value, outstanding.
<PAGE>

                                TABLE OF CONTENTS

                      E COM VENTURES, INC. AND SUBSIDIARIES

                                     PART I
                              FINANCIAL INFORMATION

<TABLE>
<CAPTION>
<S>                                                                                                      <C>
ITEM 1            FINANCIAL STATEMENTS (unaudited).......................................................3

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

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

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

ITEM 4            CONTROLS AND PROCEDURES...............................................................13

                                     PART II
                                OTHER INFORMATION

ITEM 1            LEGAL PROCEEDINGS.....................................................................13

ITEM 2            CHANGES IN SECURITIES, USE OF PROCEEDS AND ISSUER PURCHASES OF
                  EQUITY SECURITIES.....................................................................13

ITEM 3            DEFAULTS UPON SENIOR SECURITIES.......................................................13

ITEM 4            SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS...................................13

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

ITEM 6            EXHIBITS AND REPORTS ON FORM 8-K......................................................13

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

CERTIFICATIONS..........................................................................................15
</TABLE>

                                      -2-
<PAGE>

PART I.  FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

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

<TABLE>
<CAPTION>
ASSETS:                                                    October 30, 2004  January 31, 2004
                                                             -------------    -------------
<S>                                                          <C>              <C>
Current assets:
Cash and cash equivalents                                    $   1,528,723    $   1,961,310
Trade receivables, net                                           1,304,982          777,186
Advances to suppliers                                               14,569          114,041
Inventories                                                     91,499,504       60,877,451
Prepaid expenses and other current assets                        1,231,250        1,347,452
Notes and interest receivable from shareholder and officer              --          327,311
                                                             -------------    -------------
  Total current assets                                          95,579,028       65,404,751

Property and equipment, net                                     23,934,715       24,414,624
Goodwill                                                         1,904,448        1,904,448
Other assets, net                                                  938,663          739,575
                                                             -------------    -------------
  Total assets                                               $ 122,356,854    $  92,463,398
                                                             =============    =============

LIABILITIES AND SHAREHOLDERS' EQUITY:

Current liabilities:
Bank line of credit                                          $  44,382,172    $  30,472,027
Accounts payable, non-affiliates                                22,342,632       16,459,786
Accounts payable, affiliates                                    29,130,695       17,440,492
Accrued expenses and other liabilities                           5,720,445        9,614,287
Subordinated note payable, affiliate                                    --          250,000
Current portion of obligations under capital leases                258,328          258,700
                                                             -------------    -------------
  Total current liabilities                                    101,834,272       74,495,292

Convertible note payable, affiliate                              5,000,000               --
Long-term portion of obligations under capital leases            8,012,891        7,746,262
                                                             -------------    -------------
  Total liabilities                                            114,847,163       82,241,554
                                                             -------------    -------------

Commitments and contingencies (see Note 6)

Shareholders' equity:
Preferred stock, $.10 par value, 1,000,000
   shares authorized, none issued                                       --               --
Common stock, $.01 par value, 6,250,000 shares
   authorized; 3,799,098 and 3,285,758 shares issued
   in fiscal years 2004 and 2003, respectively                      37,991           32,858
Additional paid-in capital                                      75,219,595       73,666,193
Treasury stock, at cost, 898,249 shares                         (8,576,944)      (8,576,944)
Accumulated deficit                                            (59,170,951)     (54,900,263)
                                                             -------------    -------------
  Total shareholders' equity                                     7,509,691       10,221,844
                                                             -------------    -------------
  Total liabilities and shareholders' equity                 $ 122,356,854    $  92,463,398
                                                             =============    =============
</TABLE>

     See accompanying notes to consolidated condensed financial statements.


                                      -3-
<PAGE>

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

<TABLE>
<CAPTION>
                                         Thirteen Weeks     Thirteen Weeks      Thirty-Nine Weeks   Thirty-Nine Weeks
                                              Ended              Ended               Ended                Ended
                                        October 30, 2004    November 1, 2003    October 30, 2004     November 1, 2003
                                        ----------------    ----------------    ----------------    ----------------
<S>                                     <C>                 <C>                 <C>                 <C>
Net sales                               $     50,802,593    $     48,057,940    $    142,844,790    $    135,693,738
Cost of goods sold                            31,062,890          30,078,345          84,732,397          80,325,921
                                        ----------------    ----------------    ----------------    ----------------
Gross profit                                  19,739,703          17,979,595          58,112,393          55,367,817
                                        ----------------    ----------------    ----------------    ----------------

Operating expenses:
  Selling, general and administrative         18,496,051          19,444,364          55,538,277          56,902,115
  Depreciation and amortization                1,441,835           1,586,774           4,474,732           4,510,912
                                        ----------------    ----------------    ----------------    ----------------
    Total operating expenses                  19,937,886          21,031,138          60,013,009          61,413,027
                                        ----------------    ----------------    ----------------    ----------------

Loss from operations                            (198,183)         (3,105,375)         (1,900,616)         (6,099,042)
Interest expense, net                           (905,292)           (619,736)         (2,370,072)         (1,480,056)
                                        ----------------    ----------------    ----------------    ----------------
Net loss                                $     (1,103,475)   $     (3,725,111)   $     (4,270,688)   $     (7,579,098)
                                        ================    ================    ================    ================

Net loss per common share:
  Basic                                 $          (0.38)   $          (1.51)   $          (1.52)   $          (3.07)
                                        ================    ================    ================    ================
  Diluted                               $          (0.38)   $          (1.51)   $          (1.52)   $          (3.07)
                                        ================    ================    ================    ================

Weighted average number of common
shares outstanding:
  Basic                                        2,893,092           2,468,336           2,803,263           2,469,547
                                        ================    ================    ================    ================
  Diluted                                      2,893,092           2,468,336           2,803,263           2,469,547
                                        ================    ================    ================    ================
</TABLE>

     See accompanying notes to consolidated condensed financial statements.


                                      -4-
<PAGE>


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

<TABLE>
<CAPTION>
                                                       Thirty-Nine Weeks Ended Thirty-Nine Weeks Ended
                                                           October 30, 2004     November 1, 2003
                                                          ------------------    ------------------
<S>                                                       <C>                   <C>
Cash flows from operating activities:
Net loss                                                  $       (4,270,688)   $       (7,579,098)
Adjustments to reconcile net loss to net cash (used in)
    provided by operating activities:
Provision for impairment of assets and store closing                 141,479               364,930
Realized loss on investment                                               --                53,832
Depreciation and amortization                                      4,474,732             4,510,912
Change in operating assets and liabilities:
    Trade receivables                                               (527,796)             (165,180)
    Advances to suppliers                                             99,472               529,876
    Inventories                                                  (30,622,053)           (8,062,662)
    Prepaid expenses and other current assets                        116,202              (245,177)
    Other assets                                                    (373,251)              183,936
    Accounts payable, non-affiliates                               5,882,846             1,963,428
    Accounts payable, affiliates                                  11,440,203            12,408,640
    Accrued expenses and other liabilities                        (3,893,842)              (17,000)
                                                          ------------------    ------------------
Net cash (used in) provided by operating activities              (17,532,696)            3,946,437
                                                          ------------------    ------------------

Cash flows from investing activities:
Additions to property and equipment                               (3,498,614)           (4,850,652)
Proceeds from sale of investments                                         --                60,618
                                                          ------------------    ------------------
Net cash used in investing activities                             (3,498,614)           (4,790,034)
                                                          ------------------    ------------------

Cash flows from financing activities:
Net borrowings under bank line of credit                          13,910,145             3,419,453
Repayment of notes payable                                                --               (31,860)
Repayment of subordinated notes                                           --            (1,100,000)
Principal payments under capital lease obligations                  (197,268)           (1,059,237)
Proceeds from notes and interest receivable,
     shareholder and officer                                         327,311                    --
Proceeds from convertible note payable, affiliate                  5,000,000                    --
Repayment of convertible notes payable                                    --            (1,458,259)
Exercise of stock options                                          1,558,535               182,086
Purchases of treasury stock                                               --              (516,599)
                                                          ------------------    ------------------
    Net cash provided by (used in) financing activities           20,598,723              (564,416)
                                                          ------------------    ------------------
Decrease in cash and cash equivalents                               (432,587)           (1,408,013)
Cash and cash equivalents at beginning of period                   1,961,310             2,964,645
                                                          ------------------    ------------------
Cash and cash equivalents at end of period                $        1,528,723    $        1,556,632
                                                          ==================    ==================

Cash paid during the period for:
     Interest                                             $        2,214,482    $        1,493,101
</TABLE>

     See accompanying notes to consolidated condensed financial statements.


                                      -5-
<PAGE>

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

NOTE 1 -  OPERATIONS AND BASIS OF PRESENTATION

       E Com Ventures, Inc., a Florida corporation ("ECOMV"), performs all 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 related specialty items.

       Perfumania is a leading specialty retailer and wholesale distributor of a
wide range of brand name and designer fragrances. Perfumania sells fragrances at
discounted prices up to 75% below the manufacturers' suggested retail prices.
Perfumania's wholesale division distributes fragrances and related products to
other wholesale distributors throughout North America and overseas.
Perfumania.com offers a selection of its more popular products for sale over the
Internet and serves as an alternative shopping experience to the Perfumania
shopping experience. The number of retail stores in operation at October 30,
2004, and November 1, 2003, was 236 and 234, respectively.

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

       Effective January 30, 2004, Ilia Lekach, the Company's then Chairman of
the Board and Chief Executive Officer, and several other parties controlled by
Mr. Lekach and his wife Deborah Lekach (collectively, "Lekach"), entered into
the Nussdorf Option Agreement, with Stephen Nussdorf and Glenn Nussdorf (the
"Nussdorfs"), pursuant to which the Nussdorfs were granted options to acquire up
to an aggregate 720,954 shares of the Company's common stock beneficially owned
by Lekach, for a purchase price of $12.70 per share, with the acquisition price
to be paid in specified installments.

       As of May 10, 2004, Mr. Lekach had exercised his options from the Company
to acquire 443,750 shares and the Nussdorfs had acquired all 720,954 shares
pursuant to the Nussdorf Option Agreement. In accordance with the Nussdorf
Option Agreement, the Nussdorfs own an aggregate of 1,128,144 shares of the
Company's common stock or approximately 39% of the total number of shares of the
Company's common stock outstanding.

       As of October 30, 2004, the Company has a seasonal working capital
deficiency of approximately $6.3 million, cash balances of approximately $1.5
million and additional borrowing capacity of $8.4 million under its bank line of
credit. Management believes that the cash balances, the available borrowing
capacity under its three-year line of credit (see Note 3), 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 management's plans will be successful. Management is currently discussing
the possible conversion of the outstanding $5 million subordinated note payable,
affiliate to a long-term note with the holders of the note. If the Company is
unable to generate sufficient cash flows from operations in the future to
service its obligations, the Company could face liquidity and working capital
constraints, which could adversely impact future operations and growth.

       The accompanying unaudited consolidated condensed 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 consolidated condensed financial statements. It is
suggested that these consolidated condensed 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 31, 2004, filed
with the SEC on May 17, 2004, and as amended on May 18, 2004 and June 1, 2004.

                                      -6-
<PAGE>

NOTE 2 -  ACCOUNTING FOR STOCK-BASED COMPENSATION

       The Company accounts 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"), and provides proforma
disclosure of net income (loss) and earnings (loss) per share as if the fair
value based method prescribed by Statement of Financial Accounting Standards No.
123 "Accounting for Stock-Based Compensation," ("SFAS 123") as amended, had been
applied in measuring compensation expense for options granted to employees and
directors. In accordance with APB 25, compensation cost for stock options is
measured as the excess, if any, of the quoted market price of the Company's
stock at the date of the grant over the amount an employee or director must pay
to acquire the stock. Had compensation cost for options granted been determined
in accordance with the fair value provisions of SFAS No. 123, the Company's net
loss and net loss per share would have been increased to the proforma amounts
presented below.

<TABLE>
<CAPTION>
                                               Thirteen Weeks     Thirteen Weeks     Thirty-Nine Weeks   Thirty-Nine Weeks
                                                   ended              ended               ended              ended
                                              October 30, 2004    November 1, 2003   October 30, 2004   November 1, 2003
                                               ---------------    ---------------    ---------------    ---------------
<S>                                            <C>                <C>                <C>                <C>
Net loss as reported                           $    (1,103,475)   $    (3,725,111)   $    (4,270,688)   $    (7,579,098)

Add: Total fair value of stock based
  employee compensation expense not included
  in reported net loss, net                             (6,358)           (58,138)           (24,887)          (232,048)
                                               ---------------    ---------------    ---------------    ---------------


Proforma net loss                              $    (1,109,833)   $    (3,783,249)   $    (4,295,575)   $    (7,811,146)
                                               ===============    ===============    ===============    ===============

Proforma net loss per share:

  Basic                                        $         (0.38)   $         (1.53)   $         (1.53)   $         (3.16)
                                               ===============    ===============    ===============    ===============
  Diluted                                      $         (0.38)   $         (1.53)   $         (1.53)   $         (3.16)
                                               ===============    ===============    ===============    ===============
</TABLE>


NOTE 3  - BANK LINE OF CREDIT

       On May 12, 2004, the Company entered into a three-year amended and
restated senior secured revolving credit facility with GMAC Commercial Finance
LLC and Congress Financial Corporation which provides for borrowings of up to
$60 million and supports normal working capital requirements and other general
corporate needs. Advances under the line of credit are based on a formula of
eligible inventories and bear interest depending on the Company's financial
ratios ranging from (a) prime to prime plus 1.25% or (b) LIBOR plus 2.50% to
3.75%. Borrowings 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 and certain key
ratios as defined by the lender. As of October 30, 2004, Perfumania was in
compliance with its covenant requirements. Approximately $8.4 million was
available under the credit facility as of October 30, 2004.

       On March 9, 2004, Glen and Stephen Nussdorf ("Nussdorfs") made a
$5,000,000 subordinated secured demand loan to Perfumania. The demand loan bears
interest at the prime rate plus 1%, requires quarterly interest payments and is
secured by a security interest in Perfumania's assets pursuant to a Security
Agreement, by and among Perfumania and the Nussdorfs. There are no prepayment
penalties and the loan is subordinate to all bank related indebtedness.

                                      -7-
<PAGE>

       On December 9, 2004, the Company issued a Subordinated Convertible Note
(the "Convertible Note") in exchange for the $5,000,000 subordinated secured
demand loan. The Convertible 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 Convertible Note is
subordinate to all bank related indebtedness. The Convertible Note is payable in
January 2007 and allows the Nussdorfs to convert the Convertible Note into
shares of the Company's common stock at a conversion price of $11.25.

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 consolidated condensed 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 - COMPREHENSIVE INCOME (LOSS)

       Comprehensive income (loss) represents all non-owner changes in
shareholders' equity and consists of the following:



<TABLE>
<CAPTION>
                                         Thirteen Weeks       Thirteen Weeks      Thirty-Nine Weeks    Thirty-Nine Weeks
                                              Ended                Ended                 Ended                Ended
                                        October 30, 2004     November 1, 2003      October 30, 2004     November 1, 2003
                                       -------------------  -------------------   -------------------  -------------------
<S>                                          <C>                  <C>                   <C>                  <C>
Net loss                                     $ (1,103,475)        $ (3,725,111)         $ (4,270,688)        $ (7,579,098)

Other comprehensive income (loss) -
  net unrealized gain on investments                   --                6,759                    --               25,503
                                       -------------------  -------------------   -------------------  -------------------

  Total comprehensive loss                   $ (1,103,475)        $ (3,718,352)         $ (4,270,688)        $ (7,553,595)
                                       ===================  ===================   ===================  ===================
</TABLE>


NOTE 6 - CONTINGENCIES

       The Company is involved in legal proceedings in the ordinary course of
business. Management believes that the Company has meritorious defenses and that
the ultimate resolution of these matters should not have a material adverse
effect on the Company's financial position or results of operations; however,
management cannot presently predict the outcome of these matters.

NOTE 7 - RELATED PARTY TRANSACTIONS

       Parlux Fragrances, Inc. ("Parlux") owns 378,102 shares, or approximately
13%, of the Company's outstanding common stock. 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"). Purchases of
product from these related parties were approximately $59.6 million and $32.6
million for the first thirty-nine weeks of fiscal years 2004 and 2003,
representing approximately 52% and 37% of the Company's total purchases,
respectively. The amount due to these related parties at October 30, 2004 and
January 31, 2004, was approximately $29.1 million and $17.4 million,
respectively, and is included in accounts payable, affiliates in the
accompanying consolidated condensed balance sheets.

                                      -8-
<PAGE>

       Sales of wholesale merchandise to Quality King were approximately $18.1
million and $8.7 million for the first thirty-nine weeks of fiscal years 2004
and 2003, respectively. Amounts due from Quality King at October 30, 2004, are
approximately $0.3 million and are included in trade receivables, net in the
accompanying consolidated condensed balance sheets.

NOTE 8 - NON CASH TRANSACTIONS

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

<TABLE>
<CAPTION>
                                                   For the Thirty-Nine Weeks Ended
                                              -------------------------------------------
                                               October 30, 2004        November 1, 2003
                                              -------------------------------------------
<S>                                                     <C>                    <C>
Building under capital lease adjustments                $ 463,525              $ 414,630
Decrease in accounts payable in exchange for
     subordinated notes payable - affiliate                    --              5,000,000
Unrealized loss on investments available for sale              --                 25,503
</TABLE>


NOTE 9 - SEGMENT INFORMATION

       The Company operates in two industry segments, specialty retail sales and
wholesale distribution of fragrances and related products. Financial information
for these segments is summarized in the following table.

<TABLE>
<CAPTION>
                                         Thirteen Weeks       Thirteen Weeks      Thirty-Nine Weeks    Thirty-Nine Weeks
                                              Ended                Ended                 Ended                Ended
                                        October 30, 2004     November 1, 2003      October 30, 2004     November 1, 2003
                                       -------------------  -------------------   -------------------  -------------------
<S>                                          <C>                  <C>                  <C>                  <C>
Net sales to customers:
     Retail                                  $ 41,647,493         $ 41,910,440         $ 124,730,582        $ 124,254,871
     Wholesale                                  9,155,100            6,147,500            18,114,208           11,438,867
                                       -------------------  -------------------   -------------------  -------------------
                                             $ 50,802,593         $ 48,057,940         $ 142,844,790        $ 135,693,738
                                       ===================  ===================   ===================  ===================

Gross profit:
     Retail                                  $ 19,334,925         $ 17,394,333          $ 57,159,070         $ 54,144,300
     Wholesale                                    404,778              585,262               953,323            1,223,517
                                       -------------------  -------------------   -------------------  -------------------
                                             $ 19,739,703         $ 17,979,595          $ 58,112,393         $ 55,367,817
                                       ===================  ===================   ===================  ===================
</TABLE>



                                      -9-
<PAGE>

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

RESULTS OF OPERATIONS

Comparison of the Thirteen weeks Ended October 30, 2004 with the Thirteen weeks
Ended November 1, 2003.

       Net sales increased 6% from $48.1 million in the thirteen weeks ended
November 1, 2003 to $50.8 million in the thirteen weeks ended October 30, 2004.
The increase in sales was primarily due to an increase in Perfumania's wholesale
sales from $6.1 million in the thirteen weeks ended November 1, 2003 to $9.2
million in the thirteen weeks ended October 30, 2004. However, there was a
decrease in Perfumania's retail sales due to less customer transactions
resulting from an increase in retail sales prices. Retail sales prices were
increased in order to improve retail gross margins. Perfumania's comparable
store sales increased 1% in the thirteen weeks ended October 30, 2004 versus the
comparable period in 2003. Comparable store sales measure sales from stores that
have been open for one year or more. During both the thirteen weeks ended
October 30, 2004, and November 1, 2003, the average number of stores operated
was 234. All wholesale sales during the third quarter of fiscal 2004 were made
to Quality King.

       Gross profit increased from $18.0 million in the thirteen weeks ended
November 1, 2003 (37% of total net sales) to $19.7 million in the thirteen weeks
ended October 30, 2004 (39% of total net sales). The 10% increase in gross
profit was due to higher sales prices on retail products and an increase in
wholesale sales.

       Selling, general and administrative expenses decreased from $19.4 million
in the thirteen weeks ended November 1, 2003 to $18.5 million in the thirteen
weeks ended October 30, 2004. The 5% decrease was attributable to lower store
payroll and employee related costs and improved expense control compared with
2003. Depreciation and amortization was approximately $1.4 million and $1.6
million, respectively in the thirteen weeks ended October 30, 2004 and November
1, 2003.

       As a result of the foregoing, our loss from operations during this period
was $0.2 million compared to a loss from operations of $3.1 for the
corresponding period of 2003.

       Interest expense, net was approximately $0.6 million for the thirteen
weeks ended November 1, 2003 compared with $0.9 million for the thirteen weeks
ended October 30, 2004. The increase in interest expense was due to higher
interest rates and higher average borrowings for the thirteen weeks ended
October 30, 2004 versus the comparable period of 2003.

       As a result of the foregoing, our net loss was $3.7 million in the
thirteen weeks ended November 1, 2003 compared to a net loss of $1.1 million in
the thirteen weeks ended October 30, 2004. Net loss per share for the thirteen
weeks ended in November 1, 2003 and October 30, 2004 was $1.51 and $0.38,
respectively.

COMPARISON OF THE THIRTY-NINE WEEKS ENDED OCTOBER 30, 2004 WITH THE THIRTY-NINE
WEEKS ENDED NOVEMBER 1, 2003.

       Net sales increased 5% from $135.7 million in the thirty-nine weeks ended
November 1, 2003 to $142.8 million in the thirty-nine weeks ended October 30,
2004. The increase in sales was due to a 58% increase in Perfumania's wholesale
sales while retail sales were materially unchanged. Perfumania's comparable
store sales increased by 1% in the first thirty-nine weeks of fiscal 2004,
compared to the first thirty-nine weeks of 2003. Comparable store sales measure
sales from stores that have been open for a year or more. During the thirty-nine
weeks ended October 30, 2004, the average number of stores operated was 232
versus 236 in the prior year's comparable period.

       Gross profit increased 5% from $55.4 million in the thirty-nine weeks
ended November 1, 2003 (41% of total net sales) to $58.1 million in the
thirty-nine weeks ended October 30, 2004 (41% of total net sales). As a
percentage of net sales, gross profit for retail sales increased from 44% to 46%
over the comparable thirty-nine week period of the prior year, due to higher

                                      -10-
<PAGE>
selling prices and lower cost of goods sold. The Company, during the current
period has been able to obtain certain merchandise at better prices and
quantities from Quality King.

       Selling, general and administrative expenses decreased 2% from $56.9
million in the thirty-nine weeks ended November 1, 2003 to $55.5 million in the
thirty-nine weeks ended October 30, 2004. The decrease was attributable to lower
store payroll and employee related costs and improved expense control compared
with 2003. Depreciation and amortization was approximately $4.5 million in both
the thirty-nine weeks ended October 30, 2004 and November 1, 2003.

       Interest expense, net was approximately $1.5 million for the thirty-nine
weeks ended November 1, 2003 compared with $2.4 million in the same period of
2004. The increase in interest expense was due to interest incurred on the
capital lease of our corporate office and distribution center to which we
relocated during the second quarter of fiscal 2003, in addition to higher
interest rates and higher average borrowings for the thirty-nine weeks ended
October 30, 2004 versus the comparable period of 2003.

       As a result of the foregoing, our net loss decreased from $7.6 million in
the thirty-nine weeks ended November 1, 2003, to a net loss of $4.3 million in
the thirty-nine weeks ended October 30, 2004. Net loss per share for the
thirty-nine weeks ended November 1, 2003 and October 30, 2004 was $3.07 and
$1.52, 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 thirty-nine weeks of fiscal 2004, these capital requirements generally
were satisfied through borrowings under our credit facility.

       At October 30, 2004, we had a working capital deficiency of approximately
$6.3 million compared to a working capital deficiency of approximately $9.1
million at January 31, 2004. The decrease was primarily due to the convertible
note payable issued to the Nussdorfs offset by the net loss during the current
period.

       Net cash used in operating activities during the thirty-nine weeks ended
October 30, 2004 was approximately $17.5 million compared with approximately
$3.9 million provided by operating activities for the same period in the prior
year. The increase in cash used in operating activities was primarily due to a
$30.6 million increase in inventories resulting from our decision to increase
the levels and assortment of product offerings in Perfumania's retail stores. In
addition, there was a decrease in accrued expenses of $3.9 million resulting
from payments made in connection with a change in management control, offset by
a $17.6 million increase in accounts payable as a result of the increased
inventory purchases. With respect to purchases of inventory from related
parties, we believe that those purchases are at prices and/or on terms generally
better than would otherwise be available from unrelated third parties.

       Net cash used in investing activities was approximately $3.5 million in
the thirty-nine weeks ended October 30, 2004, compared to $4.8 million in the
thirty-nine weeks ended November 1, 2003. Investing activities represent
spending for the renovation of existing stores and new store openings.
Approximately $1.1 million of the amount used in investing activities in the
thirty-nine weeks ended November 1, 2003 was attributable to the relocation of
the Company's corporate office and distribution center to Sunrise, Florida in
the second quarter of the fiscal year 2003.

       During the thirty-nine weeks ended October 30, 2004, Perfumania closed 7
stores and opened 12 new stores, versus 11 closures and 7 new stores in the
comparative period of 2003. At October 30, 2004, Perfumania operated 236 stores
compared to 234 stores as of November 1, 2003. Management's focus is on
improving the profitability of existing stores and plans to open 4 additional
stores and close 10 stores for the remainder of fiscal year 2004.

       Net cash provided by financing activities during the current period was
approximately $20.6 million compared with approximately $0.6 million used for
the same period in the prior year. The increase was due primarily to borrowings
under our bank line of credit to fund inventory purchases and $5 million in
proceeds from a subordinated note payable to an affiliate.

       Perfumania's senior secured credit facility, with GMAC Commercial Credit
LLC and Congress Financial Corporation, provides for borrowings of up to $60
million, of which approximately $8.4 million was available at October 30, 2004,
and supports normal working capital requirements and other general corporate
purposes. Advances under the line of credit are based on a formula of eligible
inventories and bears interest depending on the Company's financial ratios
ranging from (a) prime to prime plus 1.25% or (b) LIBOR plus 2.50% to 3.75%.

                                      -11-
<PAGE>

Borrowings 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 and certain key ratios, as defined
by the lender. As of October 30, 2004, Perfumania was in compliance with its
covenant requirements.

       On December 9, 2004, we issued a subordinated convertible note (the
"Convertible Note") to the Nussdorfs in exchange for the $5 million subordinated
secured demand note payable, affiliate, that they currently hold. The
Convertible 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.
There are no prepayment penalties and the Convertible Note is subordinate to all
bank related indebtedness. The Convertible Note is payable in January 2007 and
allows the Nussdorfs to convert the Convertible Note into shares of our common
stock at a conversion price of $11.25.

       We believe our cash balances, our available borrowing capacity and our
projected future operating results will generate sufficient liquidity to support
our working capital and capital expenditures needs for the next twelve months;
however, there can be no assurance that our plans and expectations will be
successful. If we are unable to generate sufficient cash flows from operations
in the future to service our obligations and/or refinance our existing debt, we
could face liquidity and working capital constraints, which could adversely
impact future operations and growth.

CRITICAL ACCOUNTING POLICIES

       Our consolidated condensed 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 2003 Annual Report on Form 10-K.

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 or 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 general economic conditions, 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 2003 Annual Report on Form
10-K which 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 October 30, 2004, there have been no material
changes in the information about our market risks as of January 31, 2004 as set
forth in Item 7A of the 2003 Form 10-K.

                                      -12-
<PAGE>

ITEM  4. CONTROLS AND PROCEDURES

       Our Chief Executive Officer and Chief Financial Officer have evaluated
our disclosure controls and procedures and have concluded that, as of October
30, 2004, our disclosure controls and procedures are effective for gathering,
analyzing and disclosing the information we are required to disclose in our
reports filed under the Securities Exchange Act of 1934. There have been no
changes in our internal control over financial reporting during the quarter
ended October 30, 2004 that has materially affected, or is reasonably likely to
materially affect, our internal control over financial reporting.

PART  II. OTHER INFORMATION

ITEM  1. LEGAL PROCEEDINGS

         Not applicable.

ITEM  2. CHANGES IN SECURITIES, USE OF PROCEEDS AND ISSUER PURCHASES OF EQUITY
         SECURITIES

         Not applicable.

ITEM  3. DEFAULTS UPON SENIOR SECURITIES

         Not   applicable.

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

         Not   applicable.

ITEM  5. OTHER INFORMATION

         Not applicable.

ITEM  6. EXHIBITS AND REPORTS ON FORM 8-K

         (a)   Exhibits

         Index to Exhibits

         Exhibit No.                      Description of Exhibit
         -----------                      ----------------------

            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: December  10, 2004       By: /s/ Michael W. Katz
                                   ---------------------------------------------
                                   Michael W. Katz
                                   Chief Executive Officer and President

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


                                      -14-