Shein returns to profit in second quarter, but warns of uncertain second half

Fast-fashion platform Shein returned to profit in the second quarter and made $11.08 billion in sales, but warned about an uncertain second half as it unveiled its first results as a public company on Monday.

An increase in total orders fulfilled supported a more than 20% sequential jump in Shein’s second-quarter net revenue, although the Iran conflict continued to impact its Middle East operations.

The Singapore-headquartered online retailer posted a net income of $2.40 billion for the quarter ended June 30, compared with a net loss of $99 million in the previous quarter.