LightInTheBox Holding Co. announced its unaudited financial results for the second quarter of 2017.
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Net revenues increased 19.6% year-over-year to $78.5 million from $65.6 million in the same quarter of 2016. Net revenues from product sales were $73.7 million, compared with $59.4 million in the same quarter of 2016.
Net revenues from service and others were $4.8 million, compared with $6.2 million in the same quarter of 2016. As a percentage of net revenues, service and others accounted for 6.2% during the second quarter of 2017.
Total orders of product sales were 1.7 million for the second quarter of 2017, compared with 1.4 million in the same quarter of 2016. Total number of product sales customers was 1.4 million for the second quarter of 2017, compared with 1.2 million in the same quarter of 2016.
Product sales in the apparel category were $27.0 million for the second quarter of 2017, compared with $24.1 million in the same quarter of 2016.
As a percentage of product sales, apparel revenues accounted for 36.6% for the second quarter of 2017, compared with 40.6% in the same quarter of 2016. Product sales from other general merchandise were $46.7 million for the second quarter of 2017.
Product sales from Europe were $37.4 million for the second quarter of 2017, compared with $32.9 million in the same quarter of 2016, representing 50.7% of total product sales for the second quarter of 2017.
Product sales from North America were $19.2 million, compared with $19.0 million in the same quarter of 2016, representing 26.1% of total product sales for the second quarter of 2017, while product sales from other countries were $17.1 million, representing 23.2% of total product sales for the same quarter.
Total cost of revenues was $50.9 million in the second quarter of 2017, compared with $41.2 million in the same period of 2016. Cost for product sales was $46.2 million in the second quarter of 2017, compared with $35.4 million in the same period of 2016.
Cost for service and others was $4.7 million in the second quarter of 2017, compared with $5.8 million in the same period of 2016.
Gross profit for the second quarter of 2017 was $27.6 million, compared with $24.4 million in the same period of 2016. Gross margin was 35.2% in the second quarter of 2017, compared with 37.2% in the same quarter of 2016.
Total operating expenses in the second quarter of 2017 were $29.6 million, compared with $26.5 million in the same quarter of 2016. ■