LightInTheBox Holding announced its unaudited financial results for the third quarter ended September 30, 2015.
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GAAP net revenues decreased 29% year-over-year to $70.2 million from $99.0 million in the same quarter of 2014.
Excluding the $10 million unfavorable impact of year-over-year changes in foreign exchange rates, non-GAAP net revenues were $80.2 million during the third quarter of 2015.
Total orders decreased 28.5% year-over-year to 1.8 million during the third quarter of 2015, while the total number of customers who made a purchase decreased 24.7% year-over-year to 1.5 million.
Revenues from repeat customers increased to 45.6% of total net revenues, compared with 41.1% in the same quarter of 2014, while mobile revenue increased to 34.6% of total net revenues, compared with 26.5% for the corresponding period of 2014.
Revenues in the apparel category decreased 21.0% year-over-year to $29.2 million for the third quarter of 2015. As a percentage of total net revenues,apparel revenues were 41.6%, compared with 37.4% in the same quarter of 2014.
Revenues from other general merchandise decreased by 33.8% year-over-year to $41.0 million during the third quarter of 2015.
Revenues from Europe decreased by 31.5% to $40.5 million, representing 57.6% of total net revenues during the third quarter of 2015.
Revenues from North America decreased by 1.6% to $20.1 million, representing 28.6% of total net revenues during the quarter, while revenues from other countries decreased by 50.2% to $9.6 million, representing 13.8% of total net revenues this quarter.
Gross profit for the third quarter of 2015 was $26.4 million, down from $36.6 million in the same period of 2014.
Gross margin was 37.5% in the third quarter of 2015, compared with 37.0% in the same quarter of 2014. Excluding the unfavorable changes in foreign exchange rates, non-GAAP gross margin during the third quarter of 2015 was 45.3%.
Total operating expenses in the third quarter of 2015 were $34.7 million, compared with $43.8 million in the same quarter of 2014. ■