Key facts
- Shein reported a net income of $2.40 billion for the second quarter.
- Shein posted $11.08 billion in sales for the second quarter.
- The company had a net loss of $99 million in the first quarter.
- Shein shares have declined 28% since its September 1 listing.
Shein returned to profit in the second quarter, reporting a net income of $2.40 billion on sales of $11.08 billion. This marks the first financial results released by the Singapore-headquartered online retailer since its public listing on September 1. The company had posted a net loss of $99 million for the quarter ended March 31. Despite the return to profitability, Shein's shares have fallen 28% since its debut, as investors anticipate that European Union customs fees on e-commerce parcels could impact its business in a market that accounts for approximately one-third of its revenue.