Shein posts $99M loss as US duty exemption ends

Fast-fashion giant Shein reported a $99 million net loss for the first quarter of 2026, reversing a $395 million profit from the same period last year. The loss was driven by the elimination of a U.S. duty exemption that had previously benefited its largest market, along with a one-time accounting charge. The company, which is pursuing a Hong Kong IPO, faces increased costs and regulatory scrutiny.