Shein swings to $99m loss as Donald Trump's tariffs hit sales
Fast-fashion retailer Shein reported a $99 million quarterly loss, citing the impact of US import duty changes and geopolitical tensions. The company is currently preparing for a planned IPO in Hong Kong following regulatory approval.
Why it matters
The financial performance of major global retailers is heavily influenced by trade policy shifts and international tariff wars, impacting market valuation and consumer pricing.
Share Save Add as preferred on Google Peter Hoskins Business reporter In Pictures via Getty Images Shein says it swung to a quarterly loss as its sales slowed after US President Donald Trump removed an import duty exemption on small packages.
It also comes as uncertainty remains over the tit-for-tat US-China tariffs wars, which is currently paused.
The fast-fashion giant, which has its headquarters in Singapore but was founded in China, said it lost $99m (£74.1m) in the first three months of the year, compared with a net income of $395m a year earlier.
The announcement is part of the firm's preparations ahead of its stock market debut in Hong Kong, although the filing did not give any details on the size, timetable or pricing of the planned initial public offering (IPO).
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