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User: batty5Time: 2013-08-26 13:05:19

American depositary receipts of LightInTheBox plunged below their June 6 debut level last week, after the Beijing-based company said sales will decline. The ADRs posted the biggest slump on the Bloomberg China-US Equity Index of the most-traded Chinese stocks...LightInTheBox, whose $80 wedding gowns and $2 iPhone gadgets are manufactured in China and sold in the U.S. and Europe, reported on Aug. 19 second-quarter sales that failed to surpass analysts’ estimates and said revenue will decline in the following three months. The earnings miss could reduce future IPO prices at a time Baidu Inc.’s travel unit Qunar.com and operator of literary websites Cloudary Corp. plan to sell shares in the U.S., according to IPOX.

Wedding Gown in-a-Box Slump Risks Cutting IPOs: China Overnight - Bloomberg

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