Shein swings to $99m loss as Donald Trump's tariffs hit sales
- 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.
Unverified
- 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.
Sources: BBC News