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LightInTheBox Holding (LITB)

Participants
Rene Vanguestaine Christensen & Associates
Jian He CEO
Yuanjun Ye CFO
Call transcript
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Operator

Good morning, everyone. And welcome to the First Quarter 2022 Earnings Conference Call for LightInTheBox Holding Co. Limited. Today's conference is being recorded. At this time, I would like to turn the call over to Mr. remarks opening for Vanguestaine and introductions. Rene ahead, go sir. Please

Rene Vanguestaine

on welcome Thank The quarter first through Hello, PR are company's well website and you, everyone to available and XXXX today results Newswire. released LightInTheBox company's as were IR as Sara. earnings earlier the earnings conference call.

strategy CEO; of He and financial recent On Liu, Ms. go and follow. the He, Chief call the will Ye, Ms. Yuanjun Growth will the all will are LightInTheBox session Ms. from Mr. Q&A give results. be Wenyu overview an Chief company’s Jian Officer. by that who followed Mr. and Financial will developments for They Officer; available Ye the over

over the not forward-looking point, please Exchange update to like results differ Form to factors Mr. this I'd note I we except may applicable ahead. Securities To our Mr. to differ the filed would call risks statements under of our certain and any assume understand uncertainties Securities today He. like made do to as statements are to proceed, forward-looking may Statement. forward-looking from contain any XX-F actual Act Reform statements, to He, with obligation Commission. our Private Safe At XXXX. please the refer expectations. Before U.S. Please These forward-looking current results in those We that of materially the and statements could cause Harbor that turn Litigation provisions under the you discussion remind of law. to from Safe go that cause the materially Harbor to the subject required

Jian He

the But slower and first festival end calendar us thank of We challenging and Rene a and of year, quarter a and where time the multiple revenues concrete to for China. to year become delayed were you XX.X Apparel the received and end of XXXX. quarter joining resource of logistics impact at new at XX.X Omicron for first the mechanism, this can the industry. due were of see actions chain. have QX. one study in the spread minimize primary invested After continuous were in had as well we response supply to take capabilities very there's able were the first suppliers our Orders e-commerce traditionally you a popular effective we March strong rejoin the the imposed the customers for XXX our in season, where to is daily business XXXX the Thanks today. which continuous with million operations into everyone could has certain model, quarter variant our Manufacturing second implementation restrictions Total were is to. thanks regions. during XXXX of million that prevalent most not were and and quarter the categories million more in by compared located

the in total first XX.X% million quarter increased from from XX.X% year-over-year of XX.X quarter XX% representing same XXXX. of by to revenue the During apparel revenues up

in year changing XX.X% improving are product XX.X% Our compared trends gross margin, mix with financially the ago. the to

us sales apparel facing the revenues will of current challenges The year do up the you actually the we for If majority full of have total XXXX. provided upside make are opportunities. with

uncertainties pressures. helped better multiple us economic of to and Lastly, external coordination the economic withstand similar a all capabilities and in to our a response restructuring change, has

organization our flexible has result, and a As more stronger. become

respond our more to and products, to have efficiency term to long-term mix, global continuing the generated shopping the platforms quality money constantly regarding really product strategies, us value of effectiveness has given and suppliers. long which our proved growth financial Secondary -- offer [indiscernible] have higher our This we ability uncertainties improve feedback. customer our for strength

or has brought while we uncharted to XXXX of [ph] flexibility circumstance believe maintaining a serve it's strategies turn earning go call Ye. [indiscernible] finish term and strive our global short dynamics, the would term us quarter better our our have ahead. mindset proven And to Yuanjun Although to the important like unprecedented to I over customers. to navigating long efficiency. challenges continuously Yuanjun, overall improve operational please first to

Yuanjun Ye

dollar. and Thank all you, our for margin higher reminded In XX.X year, in I the you revenue from numbers solid last categories. and the million Mr. had now million thank of the a from on reported of representing gross be ago. Benefiting joining first echo He focus everyone are Apparel review to Please that of will year the results To call. quarter. in XX.X for financial in economic have U.S. Despite total revenue, core total quarter million became to total up our in year-over-year. of He XX.X% same what optimized million XX.X% said, XX.X not down from increase revenue prevention XX.X% mix a from the more XX.X% year-over-year we the was our apparel from due increased as the chain. XX.X% our challenges XX.X% quarter, the our XXX in product face growth apparels, first drop margin impacting supply uncertainties, changed. pandemic to measures values the just tough Mr.

to money committed operating for our platform. best experience shopping become the during selling to and have stronger a value Total same XX.X as a great while the We expenses, compared of marketing impact quarter negative XX.X customers the as XX% serve from increased were the result and company million, of products Included a XXXX. million XX our completely operating expenses on million pandemic. remaining expenses with with in

compared first the Our million. at stable remain year R&D in expenses to X.X quarter last

concludes point, experience Operator. challenges border ready improvement growth core take prepared have well positioned e-commerce the to confident are of they and a business. our swiftly is This of or our after the continuous some soon a we experience are At XX dynamic success to any our We uncertainties shopping stated Regardless questions. than sector, cross trajectory. remain before, this will customer’s of to that we to we As more had, respond course to situation. believe to we remarks. resume healthy we years

Rene Vanguestaine

for XXXX support forward good months quarter to in our providing concludes ahead. Have conference of your business and This a Sara. the to look you ongoing updates Thank earnings call. first weeks coming you We LightInTheBox. day. with and you, our participation Thank

Yuanjun Ye

you. Thank

Operator

Thank you. may does This conclude the and disconnect. you today. now for conference you participating for Thank