Fast-fashion retailer records 20% growth in sales and fees to $37bn but big hit is expected from US changes to import tax rules
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Fast-fashion retailer records 20% growth in sales and fees to $37bn but big hit is expected from US changes to import tax rules
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Shein has reported a 20% rise in global revenues to $37bn (£27.7bn) but profits have fallen as the fast-fashion retailer faced increased costs, even before it felt the impact of recent changes to US tax laws.
The Singaporean parent company of the rapidly growing retailer said pre-tax profits had fallen by 13% to $1.3bn last year from $1.5bn in 2023 after an increase in selling and marketing costs, according to new accounts.
Continue reading...Source: Guardian - World News
