Shein returns to profit in second quarter, sales reach $11.08 billion
The fast-fashion platform posted net income of $2.40 billion for the quarter ended June 30, versus a $99 million loss in the prior quarter. Shares have fallen 28% since its September 1 listing, with investors worried EU customs fees on ecommerce parcels could dent revenue.
On Sept 28, 08 billion in its first results as a public company. Shein shares have fallen 28% since the company listed on September 1, with investors expecting customs fees on ecommerce parcels in the European Union to weigh on business in a market that accounts for around a third of revenue. 40 billion for the quarter ended June 30, compared with a net loss of $99 million for the quarter ended March 31.