LightInTheBox (LITB) has released an update.
LightInTheBox, an international apparel e-commerce retailer, has reported a return to profitability with a net income of $0.6 million for the second quarter of 2024, despite a significant decrease in total revenues year-over-year. The company attributes this turnaround to a strategic pivot focusing on profitability and efficiency, despite a challenging environment marked by intense competition and high traffic acquisition costs. Moving forward, LightInTheBox plans to continue enhancing its products and customer experience to strengthen brand recognition and loyalty.
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