- LightInTheBox Holding Co Ltd (NYSE:LITB) reported third-quarter FY22 sales growth of 22.6% year-on-year to $121 million, beating the consensus of $78.49 million.
- Sales from apparel increased by 60.8% to $99.6 million, and revenues from apparel represented 82.3% of total revenues in Q3.
- The gross margin for the quarter jumped 1,340 basis points to 57.9%.
- The operating expenses for the quarter 39.6% to $70.5 million.
- Loss from operations was $(0.5) million versus a loss of $(6.6) million last year.
- The company held $57 million in cash and equivalents as of September 30, 2022.
- Adjusted EBITDA for the quarter was $0.4 million versus an EBITDA loss of $(5.1) million a year ago.
- Earnings per ADS was $0.00 compared to a $(0.05) loss the prior year.
- “We will continue to consolidate our strengths in supply chain management, optimize operational efficiency and customer experience to navigate through uncertainties and deliver long-term growth,” said CEO Jian He.
- Price Action: LITB shares are trading higher by 10.83% at $1.33 on the last check Friday.
Bitcoin, Ethereum: As Volatility Persists, Here Are Crucial Support, Resistance Zones To Watch This Week
Cryptocurrencies witnessed significant volatility since Thursday in the backdrop of negative news plaguing the financial sector that saw Silvergate Capital Corp (NYSE:SI) shut down and a
