The following is a summary of the LightInTheBox Holding Co., Ltd. (LITB) Q4 2023 Earnings Call Transcript:
Financial Performance:
LightInTheBox reported full year 2023 revenue of $629 million, up 25% year-over-year, with adjusted EBITDA loss narrowing by 34% year-over-year to $6.3 million.
The company's Q4 2023 revenues decreased by 13% year-over-year to $136 million due to a decrease in apparel sales.
The net loss for the year narrowed down to $9.6 million from $56.6 million in 2022, and Q4 2023 net loss was reported to be $4.3 million.
Q4 2023 saw a gross margin increase to 56%, up from 54% of the previous year, and operating expenses saw a decrease by 10% to $80 million.
Business Progress:
Focusing on apparel significantly contributed to LightInTheBox's sales, factoring in over 80% of its total revenues.
The company plans to enhance customer experience and localize operations in key markets such as the USA.
There is also a strategic plan to increase brand visibility and awareness to gain more standing among customers and improve the brand's overall competitiveness.
More details: Lightinthebox IR
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