LightInTheBox Holding Co., Ltd. (NYSE:LITB) Q3 2023 Earnings Call Transcript
LightInTheBox Holding Co., Ltd. (NYSE:LITB) Q3 2023 Earnings Call Transcript November 28, 2023
Operator: Hello, ladies and gentlemen. Thank you for standing by for LightInTheBox’ Third Quarter 2023 Earnings Conference Call. At this time, all participants are in listen-only mode. After management’s prepared remarks, there will be question-and-answer session. Today's conference call is being recorded. I would now turn the call over to your host, Ms. Jenny Cai. Please go ahead, Jenny.
Jenny Cai: Thank you, operator. Hello, everyone, and welcome to LightInTheBox third quarter 2023 earnings conference call. The company's earnings results were released via Newswire services earlier today and are available on the company's IR website at ir.lightinthebox.com. On the call from LightInTheBox today are Mr. Jian He, Chairman and CEO; Ms. Yuan Jun Ye, Chief Financial Officer; and Ms. Wenyu Liu, Chief Growth Officer. Mr. He will provide an overview of the company's strategies and recent developments followed by Ms. Ye, who will go over its financial results. Following our prepared remarks, we'll open the call to questions. Before we proceed, please note that today's discussion may concern forward-looking statements made under the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995.
A fashion model wearing a complete look featuring the company's apparel.
These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from the company's current expectations. To understand the factors that could cause results to materially differ from those in forward-looking statements, please refer to the company's Form 20-F filed with the Securities and Exchange Commission. The company does not assume any obligation to update any forward-looking statements, except as required under applicable law. Now I'd like to turn the call over to LightInTheBox Chairman and CEO, Mr. He. Please go ahead.
Jian He: Good morning, and good evening, everyone. Thank you for joining our third quarter 2023 earnings conference call today. Amid the third quarter's evolving macro environment and moderate growth expectations, we continued to execute our core strategy with focus on efficiency and profitability improvements. Our total revenue reached $154 million, led by apparel sales totaling $127 million, notably driven by improving operating leverage and our product cost management. Our bottom line turned positive in the third quarter, which is typically a slow season. During the third quarter, we continued to advance our branding strategies designed to highlight our values as well as our reputation for high value for money offerings and a seamless online shopping experience.
We also improved our platform’s features and layout to offer more convenient and smoother online shopping experience to our customers. We leveraged our innovative technologies and advanced data capabilities to observe customers' behaviors and habits and gained insights into their needs. We referenced motivation and pain points and enhanced our brand force offering and functions accordingly. Our advanced technologies also enable us to improve operational efficiency across our supply chain, merchandising, marketing, logistics, and customer service management during the quarter. As we head towards the end of 2023 and beyond, we will remain focused on improving operational efficiency and pursuing profitability while navigating a complicated macro backdrop.
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