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LightInTheBox Holding Co., Ltd. reports recurring developments as a global direct-to-consumer e-commerce and consumer lifestyle company. Its updates cover unaudited financial results, margin and profitability trends, proprietary apparel brands such as Ador, and the company's shift toward differentiated fashion, golf apparel, party dress and other lifestyle products sold through online platforms and mobile applications.
Company news also includes annual and extraordinary shareholder meeting notices, Form 20-F annual report announcements, conference participation, and service offerings for other e-commerce companies, including advertising, supply chain management, payment processing, order fulfillment, shipping and delivery solutions.
LightInTheBox Holding Co., Ltd. (NYSE: LITB) has appointed Wenyu Liu as Chief Growth Officer and Yuanjun Ye as Chief Financial Officer, effective immediately. Liu, with extensive experience in cross-border e-commerce and financial management, previously served as Acting CFO and has been with the company since December 2018. Ye, who has been Finance VP since August 2019, brings nearly 18 years of financial management experience, including roles at Alibaba and Deloitte. CEO Jian He expressed confidence in their leadership to drive sustainable growth and enhance operational execution.
LightInTheBox Holding Co. (NYSE: LITB) reported its Q1 2020 financial results, showing a 1.3% increase in total revenues to $51.5 million. The gross margin improved to 46.4%, up from 34.8% year-over-year. The company achieved a net income of $0.7 million, a turnaround from a net loss of $14.1 million in Q1 2019. Adjusted EBITDA also improved, reaching $1.4 million compared to a loss of $7.9 million the previous year. Looking ahead, LITB anticipates net revenues between $105 million and $120 million for Q2 2020.
LightInTheBox Holding Co., Ltd. (NYSE: LITB) will release its unaudited financial results for Q1 2020 on June 19, 2020, before U.S. market opens. A conference call will be held at 7:00 a.m. Eastern Time to discuss these results. Due to COVID-19, operator-assisted calls are unavailable; participants must preregister online to receive dial-in information. The call will be accessible via telephone replay until June 26, 2020. For more details and to register, visit the Company's Investor Relations website.