Shein posts $99m loss as tariffs hit sales

Shein swung to a $99 million quarterly loss as US President Donald Trump's removal of a tariff exemption on small packages slowed sales. The fast-fashion giant, preparing for a Hong Kong stock listing, said it lost $99m in the first quarter versus a $395m profit a year earlier. The company is raising prices in the US to offset higher costs. Uncertainty over US-China tariffs and the Iran war also affected demand and deliveries.