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The fast-fashion platform posted $11.08 billion in sales and $2.40 billion net income for the quarter ended June 30, after a $99 million loss in the previous quarter. It said Europe sales fell nearly 14% to $3,770 million and that Iran conflict continued to affect Middle East operations.
Fast-fashion platform Shein HKEX:625 returned to profit in the second quarter and made $11.08 billion in sales, but warned about an uncertain second half as it unveiled its first results as a public company on Monday.An increase in total orders fulfilled supported a more than 20% sequential jump in…
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.
Shein HKEX:625 returned to profit in the second quarter and made $11.08 billion in sales, the fast-fashion platform reported on Monday in its first results as a public company.Shein shares have sunk 28% since listing on September 1, as investors expect customs fees on ecommerce parcels in the Europ…