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Shares of fast-fashion's Shein plunge 14% to record low after profit slides
HONG KONG: Shares of fast-fashion retailer Shein tumbled as much as 14% on Tuesday after it reported a 67% fall in quarterly profit in its first post-IPO results, fuelling investor concerns over margin pressure and slowing growth. Investors and analysts have been closely watching for signs that growth is moderating from the breakneck pace that propelled Shein’s rapid rise and underpinned its plans for a stock market listing. “Shein is still growing orders and diversifying across markets, but the scale of the margin compression and the weakness in Europe raise questions over how quickly it can ...
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