Lightinthebox Wedding Dress – lightinthebox wedding dress
* Third-qtr adapted accident $0.04/share vs est. $0.05/share accumulation
* Acquirement rises 33.4 pct to $68.1 mln
* Accoutrement business acquirement declines 8 pct
* Forecasts current-quarter acquirement of $75 mln-$77 mln
By Rohit T. K.
Nov 19 (Reuters) – Chinese online banker LightInTheBox Holding Co Ltd appear a bigger annual accident afterwards its operating costs rose 50 percent and sales of its bells and brawl dresses declined, sending its shares bottomward as abundant as 23 percent.
The aggregation said its current-quarter accumulation margins would additionally be hit by a about-face against cheaper, off-the-shelf accouterment that fetches lower prices than its customized bells dresses.
LightInTheBox anticipation fourth-quarter acquirement aural a ambit of $75 actor to $77 million, beneath the boilerplate analyst appraisal of $83.1 million.
LightInTheBox’s accoutrement business delivers the better accumulation margins for the company. But sales from that allocation of the business – alone the second-biggest acquirement contributor – fell 8 percent in the third division concluded Sept. 30.
Facing boxy antagonism from bargain bells retailers in the United States, the aggregation said in August that it had placed “too abundant emphasis” on its high-end products.
On Tuesday, the aggregation said the boilerplate adjustment admeasurement for the third division had alone to about $43 from added than $50. Apart from clothing, the aggregation sells gadgets, baby accessories and home and garden products.
“Traditionally, we accept been actual able in customized accoutrement such as bells and appropriate break dress, which has abundant college gross margins,” Chief Financial Officer Zheng Xue said on a post-earnings appointment call.
“Nowadays, we are alms added ready-to-wear, standard-size products. These tend to accept lower gross margins.”
The company, which went accessible in June, said it accepted sales of its bells and appropriate occasions accoutrement to balance by the additional division of 2014, because added bodies adopt to ally during the bounce and summer.
Most of LightInTheBox’s barter are amid in Europe and the Americas. Xue said the company, which competes with industry behemoth Alibaba IPO-ALIB.N, planned to set up added warehouses alfresco China to abate aircraft costs.
LightInTheBox appear a third-quarter net accident of $2.4 million, or 4 cents per share, excluding items, compared with a net accident of $1.0 actor in the third division of 2012.
Revenue rose 33.4 percent to $68.1 million.
Analysts on boilerplate had accepted a accumulation of 5 cents per allotment on acquirement of $70 million, according to Thomson Reuters I/B/E/S.
Total operating costs rose to $33 million.
Shares of the aggregation were bottomward 21 percent at $7.89 in afternoon trading on the New York Stock Exchange on Tuesday. (Additional advertisement by Aditi Shrivastava; Editing by Robin Paxton and Kirti Pandey)
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