Popular online fast-fashion retailer Shein has had a net profit loss of nearly 40%, according to the Financial Times.
The privately-held company does not publish profit guidance or have a publicly available stock price, but FT based their reporting on an internal presentation to which it gained access.
Figures for last year were much lower than the $4.8 billion in net profit and $45 billion in sales it had projected and profit dropped by more than a third, at $1 billion.
Shein's sales for the full year rose by 19% to $38 billion, with FT adding that these were from internal projections, ahead of finalised figures and a planned listing on the London Stock Exchange.
The report also noted this planned listing may be postponed to later in 2025, as United States President Donald Trump moved to end a tax exemption previously given to Shein, which will reduce profitability and likely U.S. sales.
Shein was founded by Chris Xu in 2008. Singapore is the company's headquarters.
