Shein Sinks 14% After Operating Profit Plunge in Debut Earnings
Summary
Shein shares fell as much as 12.1% to a record low after the online fashion retailer reported a 53% decline in first-half operating income in its first earnings report as a public company.
The profit collapse shows that Shein's rapid sales growth is not translating into earnings at
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Shein's weaker profitability challenges the economics of the ultra-fast-fashion model just as public investors begin to scrutinize it.