Internet retail giant Shein has announced a significant decline in profits, detailing the impact of global trade issues on its financial performance. In a recent filing, the company revealed a net loss of $3.3 million (£2.5 million; €3 million) for the first quarter of 2026, compared to a net income of $340 million (£270 million; €340 million) in the same period a year ago. This financial setback is due to a combination of factors, including the introduction of a new 3% import levy on low-value imports in the EU, the suspension of the UK's de minimis customs relief, and the ongoing trade tensions between the US and China. The company is now assessing its options to mitigate these issues while preparing for its upcoming Hong Kong listing.
