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Shein Warns on Trump Tariff Uncertainty After Profits Slip

The Singaporean parent company of the ultra-fast-fashion retailer said pre-tax profits had fallen by 13 percent to $1.3 billion last year from $1.3 billion in 2023 after an increase in selling and marketing costs.
By turning vendor relationships into a product, Shein is seeking to build a new growth pillar.
Shein’s UK arm has been accused of transferring the “vast bulk of income” to its Singaporean parent to cut its British tax bill. (Getty Images)

Shein has reported a 20 percent rise in global revenues to $37 billion but profits have fallen as the fast-fashion retailer faced increased costs, even before it felt the impact of recent changes to US tax laws.

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