LightInTheBox Holding Co., Ltd. Q3 FY2023 earnings call

• Executed core strategy focusing on efficiency and profitability improvements amid evolving macro environment. - Apparel sales grew by 28% year-over-year to $127 million, contributing 83% to total revenues. - Achieved positive bottom line in the typically slow third quarter. - Advanced branding strategies to highlight values and seamless shopping experience. - Improved platform features and layout for more convenient shopping. - Leveraged innovative technologies and data capabilities to understand customer behaviors and enhance brand offerings. - Enhanced operational efficiency across supply chain, merchandising, marketing, logistics, and customer service through advanced technologies.

Total revenue for the third quarter was $154 million. Apparel sales totaled $127 million, which is 83% of the total revenues. Gross margin improved to 60% from 58% year-over-year due to growth in apparel sales. Operating expenses increased to $92 million from $70 million year-over-year, mainly due to higher selling and marketing expenses. Fulfillment expenses were 5% of total revenues and G&A expenses were 7% of total revenues, better than the prior year's 6% and 9% respectively. Net income turned positive at $0.1 million compared to a net loss of $0.4 million in the same quarter of 2022.

• For the fourth quarter 2023, expects net revenues to be between $130 million and $145 million based on current information and business seasonality.