Shein flags tariff hits after posting quarterly loss ahead of Hong Kong IPO

Shein swung to a $99 million quarterly loss due to slowing sales after the U.S. removed an import duty exemption on small packages and a hefty one-time accounting charge, the online retailer’s pre-IPO financial filings showed on Sunday.

The filing, which lays the groundwork for investor roadshows and official bookbuilding of its much-awaited Hong Kong IPO, showed that Shein posted a loss in the first quarter of 2026 compared with a net income of $395 million a year earlier.