LightInTheBox is focused on brand development in the face of declining revenues

Light in a box (LITB) has released an update.

LightInTheBox, a global online apparel retailer, reported a significant year-over-year decline in first-quarter 2024 revenue to $71.2 million from $147.8 million, while maintaining a consistent net loss of $3.8 million dollars compared to $4.0 million in the previous year. Despite these challenges, the company is focused on strategic adjustments to increase profitability and brand differentiation, with the goal of improving customer experiences and fostering brand loyalty. They also expanded their share repurchase program and expect second-quarter revenue to be between $60 million and $70 million.

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