LightInTheBox Holding Co., Ltd. American Depositary Shares, each representing twelve ordinary shares - LITB STOCK NEWS

LightInTheBox Holding Co., Ltd. (NYSE: LITB) has officially filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2022, with the U.S. Securities and Exchange Commission (SEC). This filing provides comprehensive details regarding the company’s financial performance and operations. Shareholders can access the report electronically via LightInTheBox's investor relations website or the SEC's site. Additionally, hard copies of the audited financial statements are available upon request. LightInTheBox is recognized as a global online retail company, delivering products directly to consumers across more than 140 countries.

LightInTheBox Holding Co., Ltd. (NYSE: LITB) announced management changes effective March 29, 2023. Zhi Yan and Gang Yu have resigned from their roles as Chairman and Director, respectively, due to personal reasons. Jian He has been appointed as the new Chairman of the Board, with Ge Yan and Wei Yu joining as Directors. Jian He, previously the CEO, has extensive experience in e-commerce and semiconductor industries. Ge Yan holds academic credentials in International Management and Urban Planning, while Wei Yu brings expertise in digital trade and logistics. The company values the contributions of the departing individuals and anticipates growth with the new leadership.

LightInTheBox (NYSE: LITB) reported its fourth quarter and full year 2022 financial results, showing a 38.2% increase in revenues to $156.4 million, compared to Q4 2021. For the full year, revenues rose 12.9% to $503.6 million. Apparel sales surged 59.2% in Q4, accounting for 79.3% of total revenues, while gross margin improved from 47.2% to 53.9%. However, the company faced a net loss of $48.3 million in Q4 due to a $56 million impairment charge on an equity investment. Looking ahead, LITB anticipates Q1 2023 net revenues between $135 million and $145 million, indicating a year-over-year increase of 44% to 54%.

LightInTheBox Holding Co., Ltd. (NYSE: LITB) plans to release its unaudited financial results for Q4 and the full year ending December 31, 2022, before U.S. markets open on March 20, 2023.

A conference call will follow at 8:00 a.m. ET on the same day to discuss the results. Participants can preregister for the call, which will also be available as a telephone replay until March 27, 2023.

LightInTheBox operates a cross-border e-commerce platform, offering a variety of products globally through its websites.

LightInTheBox reported its unaudited financial results for Q3 2022 with total revenues soaring by 22.6% year-over-year to $121.0 million. Apparel sales surged 60.8% to $99.6 million, comprising 82.3% of total revenues. Gross margin improved to 57.9%, reflecting the company's strategic shift toward higher-margin apparel products. The net loss narrowed significantly to $0.4 million from $6.1 million in Q3 2021. For the first nine months of 2022, total revenues increased by 4.3% to $347.2 million, but net loss reached $8.3 million, compared to net income in the previous year.

LightInTheBox Holding Co., Ltd. (NYSE: LITB) will release its unaudited financial results for Q3 2022 on November 25, 2022, before U.S. markets open. A conference call to discuss these results will take place at 8:00 a.m. ET on the same day. Participants must preregister to receive dial-in information. A replay will be available shortly after the call until December 2, 2022. LightInTheBox, a global cross-border e-commerce platform, provides a diverse range of products to consumers in over 140 countries through its multilingual websites.