Read How LightInTheBox Fared In Q1

LightInThe Box Holding LITB reported a first-quarter FY22 sales decline of 16.3% year-on-year to $93.8 million.
Apparel sales increased 13.7% Y/Y to $67.2 million, representing 71.7% of total revenue.
The gross margin for the quarter expanded 410 basis points to 50.7%.
Loss from operations was $(6.4) million compared to an operating income of $1.4 million in the previous year.
The company held $42.8 million in cash and equivalents as of March 31, 2022.
Adjusted EBITDA was a $(4.6) million loss versus $2.3 million a year ago.
Loss per ADS was $(0.05) compared to $0.01 profit last year.
"Traditionally, the first quarter is slower in the e-commerce industry, but since the beginning of this year, we faced even more unprecedented challenges and macroeconomic uncertainties negatively affecting the supply chain and consumer sentiment," said CEO Jian He.
Price Action: LITB shares are trading higher by 1.74% at $1.17 on the last check Thursday.

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