{
  "id": 10527258,
  "title": "Shein quarterly profit falls 67% as costs jump, Europe sales slump",
  "url": "https://urgent.news/2026/09/28/shein-quarterly-profit-falls-67-as-costs-jump-europe-sales-slump",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-28T14:19:54.000Z",
  "source": {
    "name": "CNA - Business",
    "slug": "cna-business",
    "url": "https://www.channelnewsasia.com/business/shein-quarterly-profit-falls-67-costs-jump-europe-sales-slump-6415966"
  },
  "original_language": "en",
  "account": "On September 28, Shein, the fast-fashion platform, disclosed its first results as a public company, revealing a sharp decline in profit and a drop in European sales. The company's adjusted net profit for the second quarter was $228 million, a 67% decrease from the previous year, and its profit margin fell to 2.1% from 6.2% the year before. This decline was attributed to rising costs, particularly in jet fuel and freight, caused by the Middle East conflict. Shein's sales in Europe also plummeted by 13.9% in the quarter ending June, to $3.77 billion, while US sales fell by 6% to $2.5 billion. Overall sales grew by only 0.9% compared to a year ago, as growth in Latin America counterbalanced the declines in Shein's biggest markets. Despite this, Shein's shares fell 27.3% from the HK$48.56 offer price. Industry analysts noted that the company's earnings fell more than 10% below the range suggested in its prospectus. Shein's CEO, Yangtian Xu, emphasized the need to increase inventory in Europe and hinted at a shift towards higher-priced clothing to improve profitability. Shein also plans to expand its brand portfolio through acquisitions and diversification.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Straits Times Business",
        "title": "Shein returns to profitability despite sharp drop in Europe sales after price hikes",
        "url": "https://urgent.news/2026/09/28/shein-returns-to-profitability-despite-sharp-drop-in-europe-sales",
        "published": "2026-09-28T15:25:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}