Fast-fashion giant Shein swings to US$99m first-quarter loss ahead of Hong Kong listing

E-commerce giant Shein swung back to losses in the first quarter of 2026 as rising Western tariffs squeezed margins, according to its Hong Kong listing prospectus on Sunday. The Singapore-headquartered fast-fashion retailer, founded in China, recorded a US$99 million loss in the three months to March, reversing a US$395 million profit a year earlier. Net revenue edged up 1.1 per cent to US$9.05 billion in the same period. For full-year 2025, Shein’s net revenue rose nearly 8 per cent to US$41.85...