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LightInTheBox Holding Co., Ltd. (NYSE: LITB) is a global online retail company that delivers a broad range of products directly to consumers worldwide. Founded in 2007, LightInTheBox has streamlined online shopping through its websites www.lightinthebox.com, www.miniinthebox.com, and others, available in multiple major languages. The company offers items across three main categories: apparel, small accessories and gadgets, and home and garden products.
LightInTheBox's innovative data-driven business model enables it to deliver customized products, such as wedding and evening dresses, at scale. This model optimizes marketing, merchandising, and fulfillment processes, ensuring a seamless shopping experience. The company leverages its global supply chain and logistics networks, along with in-house R&D and design capabilities, to offer a wide selection of aesthetically pleasing apparel, particularly catering to middle-aged and senior customers.
Recent developments include the authorization of a share repurchase program by its board of directors on June 27, 2023. This program allows the company to repurchase up to $10 million of its ordinary shares in the form of American Depositary Shares by December 31, 2023. Financial highlights for the second quarter of 2023 showcased a record revenue of $191.8 million, driven by a 50% increase in apparel sales.
Despite macroeconomic challenges, the company continues to see growth in revenue and profitability, as evidenced by its robust financial performance in the third quarter of 2023, with total revenues increasing by 27.5% year-over-year to $154.3 million. The company remains focused on enhancing operational efficiency and profitability.
LightInTheBox has a presence in over 140 countries and regions, supported by multiple offices in Singapore, California, Shanghai, and Beijing. The company also takes forward-looking statements seriously, aligning its strategic goals with evolving market conditions.
LightInTheBox Holding Co., Ltd. (NYSE: LITB) will hold its 2022 annual general meeting of shareholders on December 16, 2022, at 10:00 a.m. in Singapore. No proposals will be submitted for shareholder approval, as the meeting will instead provide an open forum for discussions on company affairs. The record date for determining eligible shareholders to attend is set for November 4, 2022. Shareholders can view the company's annual report on Form 20-F on its website or the SEC's site.
LightInTheBox (LITB) reported its unaudited financial results for Q2 2022, showing a 8.3% year-over-year revenue increase to $132.4 million. Apparel sales surged 44.4%, contributing 82.1% of total revenues. However, the company experienced a net loss of $2.4 million, compared to a net income of $9.5 million in Q2 2021. Operating expenses rose to $75.6 million, leading to a loss from operations of $2.5 million. Despite challenges from macroeconomic factors, management highlighted improved operational efficiency and confidence in maintaining growth momentum for the second half of 2022.
LightInTheBox (NYSE: LITB) will announce its unaudited financial results for Q2 2022 on September 6, 2022, before U.S. market opening. The management will host a conference call at 8:00 a.m. ET on the same day. Interested participants can preregister via a provided link to obtain dial-in numbers and unique access PINs. A replay of the call will be available two hours post-event until September 14, 2022. LightInTheBox specializes in cross-border e-commerce, offering products globally at competitive prices through various platforms.
LightInTheBox Holding Co., Ltd. (NYSE: LITB) reported a 16.3% decline in total revenues for Q1 2022, totaling $93.8 million, down from $112.0 million in Q1 2021. Despite these challenges, apparel sales rose by 13.7% to $67.2 million, making up 71.7% of total revenues. The company's gross margin improved to 50.7% from 46.6% year-over-year. However, net loss increased to $5.5 million, compared to a net income of $1.4 million in the same quarter last year. Cash reserves also decreased to $42.8 million.
LightInTheBox Holding Co., Ltd. (NYSE: LITB) will announce its unaudited financial results for the first quarter ended March 31, 2022, on June 23, 2022, before the U.S. market opens. A conference call will follow at 8:00 a.m. Eastern Time to discuss the results. Due to COVID-19, operator-assisted calls are unavailable; participants must preregister online for dial-in information. A replay of the call will be accessible starting two hours post-call until June 29, 2022. The company provides a cross-border e-commerce platform serving consumers globally, available in over 140 countries.
LightInTheBox Holding Co., Ltd. (NYSE: LITB) announced the filing of its Annual Report on Form 20-F for the fiscal year ended December 31, 2021, with the SEC. The report is accessible online through LightInTheBox's investor relations website and the SEC website. Shareholders can request a hard copy of the audited financial statements for free. LightInTheBox is a cross-border e-commerce platform serving customers worldwide, offering a wide range of products in various languages and covering over 140 countries.
LightInTheBox reported its Q4 and full year 2021 financial results on March 30, 2022. Total revenues for Q4 decreased by 14.8% year-over-year to $113.2 million, but full-year revenues increased by 12.0% to $446.1 million. Apparel sales surged by 25.2% in Q4, constituting 70.5% of product sales. Notably, net income for Q4 was $8.7 million, reversing a loss of $3.2 million in Q4 2020. The gross margin improved to 47.2% in Q4. The company also invested $20 million in technology, anticipating future growth.
LightInTheBox Holding Co., Ltd. (NYSE: LITB) will release its unaudited financial results for Q4 and full year 2021 on March 30, 2022, before U.S. market opening. A conference call will be held at 8:00 a.m. ET on the same day to discuss the results. Due to COVID-19, participants must preregister online to join the call. A replay will be available from April 6, 2022. LightInTheBox is a cross-border e-commerce platform offering a wide range of products to consumers globally, operating in over 140 countries.
LightInTheBox Holding Co., Ltd. (NYSE: LITB) reported its third quarter 2021 financial results, revealing total revenues of $98.7 million, down 1.3% year-over-year. Despite a significant growth in apparel sales, which rose 39.6% to $61.9 million, net loss increased to $6.1 million from a net income of $7.3 million in Q3 2020. The company faced rising operational costs, particularly in digital advertising and shipping. Notably, gross margin improved to 44.5% due to optimized product mix. Cash reserves decreased to $50.2 million as of September 30, 2021, down from $65.5 million at year-end 2020.
LightInTheBox Holding Co., Ltd. (NYSE: LITB) announced plans to release its unaudited financial results for Q3 2021 on December 2, 2021, before U.S. market opening. A conference call will be held at 8:00 a.m. Eastern Time on the same day to discuss these results. Due to COVID-19, participants need to preregister online to obtain dial-in numbers. A replay of the call will be available until December 9, 2021. LightInTheBox is a global cross-border e-commerce platform offering products in over 140 countries.
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