Shein slumps to loss as sales hit by Trump’s tariff blow

Chinese fashion retailer Shein has vowed to invest 15 million US dollars (£12.2 million) in improving standards at its supplier factories as it admitted working hours at two sites breached local regulations. (Alamy/PA) -

Shein has slumped to a loss as it revealed a sales hit from US president Donald Trump’s move to scrap an import duty exemption on small packages in an update ahead of its planned stock market debut in Hong Kong.

The fast fashion group reported bottom line net losses of 99 million US dollars (£74 million) for the three months to the end of March against profits of 395 million US dollars (£296 million) a year earlier.