LightInTheBox shines on strongest Q1 on record

LightInthebox Holding

26/05/2023 15:41

** Shares of online apparel retailer LightInTheBox Holding
Co  LITB.N  up as much as 18.9% at $1.7 - highest since April 4
    ** Says quarterly revenues up about 58% at $148 mln,
exceeding top end of co's guidance range; strongest Q1 on record
    ** In March, co had forecast Q1 rev in the range of $135 mln
to $145 mln
    ** LITB attributes strong qtr to higher margins from robust
growth in apparel sales
    ** Qtrly net loss narrows to $4 million from $5.5 mln last
year
    ** Sees net revenues between $180 mln and $200 mln in Q2,
higher than $132.4 mln reported last year
    ** So far this year, stock up 24.4%

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.Mishra@thomsonreuters.com))