Mon, Mar. 9, 3:00 PM
- Though LightInTheBox (NYSE:LITB) beat Q4 estimates, it's guiding for Q1 revenue of $89M-$91M (+9%-12% Y/Y), well below a $114.9M consensus. With 75% of revenue coming from non-U.S. dollar markets (primarily Europe/South America), forex is a major headwind.
- Orders rose 53.9% Y/Y in Q4 to 3.1M, and customers 45.7% to 2.3M. 44.2% of revenue was from repeat customers and 29.7% via, respectively up from 41.1% and 26.5% a year ago.
- Thanks to a 430 bps forex hit, gross margin fell 390 bps Y/Y to 35.2%. Operating expenses rose 30.4% Y/Y to $48.1M (compares with 42.4% revenue growth), and $5.3M was spent on buybacks.
- Q4 results, PR
Mon, Mar. 9, 6:35 AM
Sun, Mar. 8, 5:30 PM
Tue, Feb. 17, 2:46 PM
- Vipshop (VIPS +14.4%) has surged to new 52-week highs after trouncing Q4 revenue estimates (and posting a more moderate EPS beat) and guiding for Q1 revenue of $1.25B-$1.3B (above a consensus of $1.22B and good for 78%-85% Y/Y growth). Given the company's history, the guidance might be conservative.
- Vipshop's active customers rose 114.2% Y/Y in Q4 to 12.2M, and its orders rose 99.6% to 35.3M. Mobile made up a whopping 66% of GMV, up from Q3's 57% and above Alibaba's 42%.
- Gross margin rose 40 bps Y/Y to 24.9%, and operating expenses grew 115% to $287.5M (exceeded revenue growth of 108.9%). Fulfillment spend +73.9%; marketing +135.5%; tech/content +168.9%; G&A +209.2%.
- Chinese e-commerce peers JD.com (JD +2.4%), Dangdang (DANG +5.8%), and LightInTheBox (LITB +3.4%) are following Vipshop higher. Vipshop and JD.com have both argued their internal logistics/fulfillment investments give them an edge over many of the sellers relying on Alibaba's platforms.
Nov. 19, 2014, 11:10 AM
- After opening higher in the wake of its Q3 report, LightInTheBox (LITB -1.7%) has sold off. The decline comes even though the Chinese online retailer beat revenue estimates (EPS was in-line) and guided for Q4 revenue of $109M-$111M, above a $103M consensus.
- As was the case following the Q2 report, margin concerns appear to be weighing on shares. Due to product mix shifts, aggressive pricing, and a stronger dollar, gross margin fell to 37% in Q3 from 41.3% in Q2 and 43.9% a year ago.
- Opex rose 32.7% Y/Y to $43.8M, slower than revenue growth of 45.3%. Fulfillment spend totaled $5.9M, sales/marketing spend $25.6M, and G&A spend $12.3M.
- Orders rose 57.1% Y/Y to 2.5M, and total customers 53.9% to 1.9M. Mobile accounted for 26.5% of revenue.
- Q3 results, PR
Nov. 19, 2014, 6:13 AM
Nov. 18, 2014, 5:30 PM
Nov. 12, 2014, 11:54 AM
- A day after Alibaba reported its Singles Day GMV surpassed $9B, top rival JD.com (JD +5.6%) has announced it handled over 14M orders on Singles Day (over 40% via mobile), and that its GMV more than doubled Y/Y.
- Altogether, JD.com sold 35.2M items. Apparel orders (+250% Y/Y) were especially strong.
- Meanwhile, LightInTheBox (LITB +1.9%), which gets most of its orders from non-Chinese buyers, reports its Singles Day sales rose 50% Y/Y to $1.9M. Orders rose 70% to more than 43.5K.
Sep. 26, 2014, 10:03 AM
- LightInTheBox (NYSE:LITB) now expects Q3 revenue of $94M-$96M (+38%-41% Y/Y), up from prior guidance of $92M-$94M and a $93.7M consensus.
- With shares down 30% YTD going into today, the guidance hike is being very well-received. They fell in August following LITB's Q2 report, as margin declines overshadowed strong top-line numbers.
Aug. 20, 2014, 1:45 PM
- Due to mix and pricing strategy changes, LightInTheBox's (NYSE:LITB) gross margin fell to 39.5% in Q2 from 41.3% in Q1 and 46% a year ago. That was a major reason EPS was only in-line in spite of a $5M revenue beat.
- Rising opex also took a toll: Fulfillment spend grew to 6.1% of revenue from 5.2% a year ago due to smaller average order size; sales/marketing spend rose to 27.7% from 27.1%; and G&A spend rose to 12.9% from 12.2%.
- Apparel revenue +43.5% to $35.4M, while electronics and general merchandise revenue +14.3% to $54.4M. Total orders +52.4% to 2.2M; active customers +44.2% to 1.7M. Mobile accounted for 28.2% of orders, up from 16.8% a year ago.
- LightInTheBox expects Q3 revenue of $92M-$94M, above an $85M consensus.
- Q2 results, PR
Aug. 20, 2014, 6:03 AM| Comment!
Aug. 19, 2014, 5:30 PM
Jun. 27, 2014, 9:39 AM| Comment!
May 21, 2014, 1:29 PM
- LightInTheBox (LITB +2.6%) expects Q2 revenue of $84M-$86M, above an $83.1M consensus.
- EPS was once more pressured (previous) by a declining gross margin: Q1 GM fell 410 bps Y/Y to 41.3%, something LITB blames on apparel product mix changes and "pricing adjustments in the company's wedding business."
- Also: Opex rose 40.7% Y/Y to $42.3M, easily outpacing rev. growth of 11.2%. Sales/marketing spend +41.4% to $25.9M, G&A +42.5% to $11.4M, fulfillment +33.1% to $5M.
- European sales (66.4% of total) +14.2% Y/Y, North America (20.1% of total) +13%, South America (6.3% of total) flat.
- Q1 results, PR
May 21, 2014, 6:11 AM| Comment!
May 20, 2014, 5:30 PM
LITB vs. ETF Alternatives
Other News & PR