Apparel e-commerce Retailer LightInTheBox Posts 27.5% Topline Growth: Details
Portfolio Pulse from Nabaparna Bhattacharya
LightInTheBox Holding Co., Ltd. (NYSE:LITB) reported a 27.5% increase in Q3 FY23 sales to $154.3 million, with apparel sales up 27.8% to $127.3 million. Earnings per ADS were $0.00. Gross margin expanded to 59.5%, and gross profit reached $91.9 million. Operating expenses were $91.8 million, and adjusted EBITDA was $0.8 million. The company had $80.0 million in cash and equivalents as of September 30, 2023. For Q4, LightInTheBox forecasts net revenues of $130 million-$145 million. LITB shares dropped slightly by 0.12% to $1.29.
November 28, 2023 | 3:27 pm
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POSITIVE IMPACT
LightInTheBox reported strong Q3 FY23 results with significant sales growth and a positive outlook for Q4, despite a slight decrease in share price.
The positive earnings report and growth in sales, along with a positive outlook for Q4, are likely to instill investor confidence and could lead to a short-term increase in stock price. The slight decrease in share price may be a temporary reaction to other market factors or profit-taking.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100