The following is a summary of the LightInTheBox Holding Co., Ltd. (LITB) Q1 2024 Earnings Call Transcript:
Financial Performance:
LightInTheBox reported a decrease in total revenues by 52% year-over-year to $71 million due to macroeconomic headwinds and intensive competition.
The total operating expenses decreased by 47% year-over-year to $45 million.
Net loss for Q1 2024 narrowed to $3.8 million from $4 million in the same quarter of 2023.
Business Progress:
The company is prioritizing profitability improvement and is initiating strategy adjustments to differentiate its offerings.
They plan to refine localized operations and marketing in key markets, such as the United States, and leverage proprietary technologies to enhance operational efficiency and customer service.
More details: Lightinthebox IR
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