Key facts
- Shein shares fell as much as 14% on Tuesday, reaching a record low.
- The company's adjusted net profit for the second quarter was $228 million.
- Shein's profit margin narrowed to 2.1% from 6.2% in the year-earlier period.
Shares of fast-fashion retailer Shein tumbled as much as 14% on Tuesday, reaching a record low, after the company reported a 67% fall in quarterly profit. The company's adjusted net profit for the second quarter was $228 million, with its margin squeezed to 2.1% from 6.2% in the year-earlier period. This decline has fueled investor concerns over margin pressure and slowing growth for the company.