Shein dives over 11pc after earnings disappoint
Shares in fast-fashion giant Shein plunged more than 11 percent in Hong Kong on Tuesday after releasing disappointing financial results. The company, which faces growing competition from low-cost e-commerce companies such as Temu and AliExpress, said that revenue grew just one percent on-year in the first six months of the year, while its operating profit halved. By around lunch on Tuesday, Shein's share price had pared some of the losses but was still down 10.9 percent at HK$31.44. Monday's results were Shein's first since its high-profile initial public offering this month, which put the company's valuation at around US$26.3 billion – well short of the nearly US$100 billion during private fundraising rounds in 2022. Net revenue from Europe fell 13.9 percent to nearly US$3.8 billion for the second quarter, Shein reported. The decrease "reflects a decline in sales volume as we raised prices and lowered online advertising spending" in anticipation of the removal of the customs duty exemption, the company said. Another key market, the United States, saw revenue drop six percent in April-June, reflecting the impact of tariffs. Since its first day of trading on the Hong Kong Stock Exchange in September, Shein's share price has fallen more than 35 percent. (AFP) Edited by Aaron Tam
Read full articleMORE NEWS
Europeans Are Sharing Their Brutally Honest Thoughts About America’s “Unique” Fashion Choices, And I Hate How Called Out I Feel
"Americans go to the supermarket or university in their pajamas — that just doesn't happen here..." View Entire Post ›
Does Jelly Roll’s ex-wife Bunnie Xo have a new man? Meet reality TV star Dylan Wolf
Bunnie Xo may have a new beau, and she’s not hiding it. The 46-year-old Dumb Blonde Podcast host, whose divorce from country music star Jelly Roll was finalised in July, sparked romance rumours with 24-year-old television personality Dylan Wolf that month. The two were spotted sharing a Fourth of July kiss at Jelly Roll’s Goodnight Nashville bar, per People. The podcaster, whose real name is Alisa DeFord, later said on her show that the kiss was “not an issue at all” and that she was “not dating...
Warning more homes will be uninsurable due to flood risk
Aviva boss Amanda Blanc said England was "for sure" building homes that might be uninsurable at some point in the future.
What is the triple lock and why are people talking about it?
The triple lock guarantees that the state pension is not overtaken by inflation or wage increases.
Oh My Ghost! Oh My God! review: Naomi Watanabe gets lost in dismal Taiwanese horror comedy
1/5 stars Japanese comedian Naomi Watanabe plays a pop star who travels to the Taiwanese countryside in search of her ancestral home in the horror comedy Oh My Ghost! Oh My God! Marking the directorial debut of indigenous actor Soda Voyu, the film follows an eclectic group of oddball characters as they navigate all manner of supernatural obstacles in the hostile mountains, but fails spectacularly to be either scary or funny. A spiritual sequel to Hidden Treasures in the Mountain (2018), Oh My...
OpenAI scraps rollout of new model over safety concerns
The firm also issued an update on incidents in which its models accessed Australian government systems.
Mideast Oil Exports Rebound Even as Prices Remain Elevated
More tankers are moving through the Strait of Hormuz as shippers gain confidence, but the global supply of oil is still below demand.
Noodles and Naps: Plaza Premium Refits Four Taoyuan Airport Lounges
Rest suites in Terminal 2, local-brand menus and more seats: what five months of works change at Taoyuan Airport's four Plaza Premium lounges The post Noodles and Naps: Plaza Premium Refits Four Taoyuan Airport Lounges appeared first on Business Traveller.
Style Edit: Max Mara celebrates 1930s women explorers, as Sportmax lightens daily essentials for SS27
Since their founding, Max Mara and sister brand Sportmax have been lauded for consistently delivering a covetable wardrobe of luxurious essentials that celebrate sophisticated, effortless Italian tailoring. Every collection’s unique blend of timeless elegance and everyday wearability has made it a mainstay in the wardrobes of style stars like Kate Mara, Leighton Meester, Yoona Lim and Adria Arjona – the latter received the 2026 Women in Film (WIF) Max Mara Face of the Future Award – all of whom...
FHS World 2026: Hospitality has been tested. Its ambition has not.
As Dubai wakes up this morning, FHS World opens its doors at Madinat Jumeirah at a fascinating moment for global hospitality, and perhaps the most revealing thing about the thousands of investors, owners, operators, developers and government leaders gathering here is that, after one of the more challenging years the industry has faced since the pandemic, nobody appears to have lost their appetite for what comes next.
1 in 8 cancer cases worldwide are caused by infections, study finds
New global research suggests 12 per cent of cancers were caused by infections, predominantly caused by HPV and H. pylori
Hotelpreis-Prognose 2027: Wo die Zimmerpreise steigen
2027 steigen die Hotelpreise weiter. Besonders die Unsicherheit erweist sich als Preistreiber und schlägt sich als Inflation in den Volkswirtschaften nieder. Deshalb legt sich der „Hotel Monitor 2027“ von Amex GBT erstmals nicht auf konkrete Wertangaben fest. The post Hotelpreis-Prognose 2027: Wo die Zimmerpreise steigen appeared first on Business Traveller.