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Shein's annual profit down by more than a third, FT reports

Summary by Ground News

Online fast-fashion retailer Shein's profit dropped by more than a third last year, adding to its challenges ahead of a planned listing on the London Stock Exchange, the Financial Times reported on Sunday. Net profit was down almost 40% at $1 billion in 2024, the report said, citing two people with knowledge of the matter. Shein's sales for the full year rose by 19% to $38 billion, the report said, adding that the figures were from internal projections ahead of finalised accounts.

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Reuters

+5 Reposted by 5 other sources

Shein's annual profit down by more than a third, FT reports

4 hours ago·United Kingdom

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De Telegraaf

'Chinese e-commerce store Shein sees profits plummet by almost 40%'

Chinese online retailer Shein saw its profits plummet by nearly 40% last year, the Financial Times reported, citing anonymous sources.

9 hours ago·Amsterdam, Netherlands

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Bloomberg

Shein Profit Dropped Last Year, Further Challenging IPO, FT Says

Fast-fashion retailer Shein’s profit slumped by almost 40% last year, putting further pressure on a potential initial public offering in the UK, the Financial Times reported, citing people it didn’t identify.

11 hours ago·United States

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Channel News Asia

Shein's profits drop by more than a third in 2024, FT reports

Shein's profits dropped by more than a third last year, adding to its challenges ahead of a planned listing on the London Stock Exchange, the Financial Times reported on Sunday. The online fast-fashion retailer's net profit fell by almost 40 per cent to $1 billion in 2024, the report said, citing two peo

11 hours ago·Singapore

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Financial Times

+2 Reposted by 2 other sources

Shein profits slump in fresh challenge to long-planned London IPO

Competition from Temu adds to pressure on fast-fashion group’s valuation as it seeks approval for UK listing

12 hours ago·London, United Kingdom

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El CEO

Is Shein's bagging complicated? Her winnings are collapsing.

Shein, a Chinese fast fashion chain, suffered a fall of almost 40% of its profits last year, complicating the company’s expected stock market outflow through a public stock offer in the UK. According to a report from the Financial Times (FT), Shein’s profits fell to $1 billion, amid a growing battle with its competitor Temu, a platform that has been gaining popularity. Revenues grew 19%, to $38 billion, according to the British media report, in …

2 hours ago

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