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@ Layer3.news
2025-02-24 08:10:53
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SHEIN'S PROFIT WAS CUT BY MORE THAN A THIRD LAST YEAR.
https://pic1.calcalist.co.il/picserver3/crop_images/2024/06/03/B1EMeeiVR/B1EMeeiVR_1_0_1400_788_0_large.jpg
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✍️ Online retailer Shein faces another hurdle in its planned IPO in London, with a significant decline in its net profit and increased competition from rival Temu.
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👉 Shein's net profit has declined by nearly 40% to $1 billion
👉 Increased competition from rival Temu
👉 Sales have increased by 19% to $38 billion
👉 Preliminary estimates
👉 IPO in London delayed due to challenges
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#London #NewYork #China #business
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