LightInTheBox (LITB) has released an update.
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LightInTheBox, a global apparel e-commerce retailer, reported a 25% increase in annual revenues to $629.4 million for the year 2023, with apparel sales contributing significantly to this growth. The company experienced a decrease in fourth-quarter revenue by 13.3%, but saw improved profitability with a narrower adjusted EBITDA loss year-over-year. Additionally, LightInTheBox has been notified by the NYSE of non-compliance due to its ADS trading price falling below the minimum required average.
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