Shein fast-fashion retailer hit by €86m loss due to US costs | Echo.ie

Home Business Shein intend to improve services Shein fast-fashion retailer hit by €86m loss due to US costs Echo Staff August 18, 2026 9:12 am FAST-FASHION retailer Shein, reported net losses for the first quarter of the year as US trade tensions affected the business. Shein reported a quarterly net loss of $99 million (€86.8 million), compared to a net income of $395m a year prior. According to a new filing ahead of the company’s Hong Kong listing, the slump is due to a decrease in sales after an import duty exemption on small packages was relieved by the US. The company stated: “In response to the increased duties and taxes, we are pursuing a wide range of options, including increasing our prices in the US market to offset a portion of the increased costs.” Net profit margins narrowed sharply to 4.9 per cent in 2025 from 8.7 per cent in 2024 in the latest filings. The company received approval from the China Securities Regulatory Commission in early July for an initial public offering on the Hong Kong market. The business previously attempted to get a foothold on the New York and London stock exchanges. Europe overtook the US as the company’s biggest market in 2024 and an exemption of similar effect in EU states, including Ireland, was brought to an end at the start of July. In June, Shein announced an expansion of operations in Ireland with a new 16,000 sq ft facility in Greenogue Business Park. The facility was previously managed by a third-party logistics provider and has now transitioned to Shein’s direct management, as the company scales its regional fulfilment network. The opening follows Shein’s establishment of its EMEA headquarters in Dublin in May 2023 and further strengthens the company’s European expansion strategy. At the time, Shein Corporate Communications Director Robin Kiely said: “Ireland plays an important role in our wider European growth strategy and this investment strengthens our ability to provide improved, more efficient services for customers across the country.” Read More Plans submitted for 10-storey Greenhills apartment building News PLANS for a new part 10-storey 99-apartment building on Greenhills Road in Walkinstown have been submitted. The plans located at the site... Safco Fine Foods Basil Pesto is going nationwide in Lidl Sponsored Content ADVERTORIAL Safco Fine Foods founded by Mohammed Rashid in 2012 based in Clondalkin is going nationwide in Lidl. The fresh basil pesto... Moves to develop Knockmitten House into hostel Property AN APPLICATION for temporary planning permission for five years has been lodged for an office property known as Knockmitten House on Knockmitten... Family concerned for wellbeing of missing teenager Eoghan (14) Latest UDPATE: Eoghan O’Reilly (14) who was reported missing from Killinarden, Tallaght, Dublin 24 since the evening of Wednesday 12th August, 2026, has... SDCC invites locals to August 17 consultation on new Palmerstown play spaces News South Dublin County Council is inviting locals to a community consultation happening on August 17 on proposals for new play spaces in... Community Circular Economy Day Sponsored Content Don’t Throw Your Broken or Worn Household Items Away…. Bring Them. Fix Them. Swap Them. Give Them a Second Life and Love... Transport bodies raise safety concerns over planned digital advertising sites Tallaght SUBMISSIONS from the NTA, TII and the RSA raised concerns with the planned outdoor advertising set for sites in Tallaght, Clondalkin and... In her 105th year, Sr Stephen celebrates a long and fruitful life and is remembered by past pupils Ballyfermot MARYFIELD Nursing Home celebrated another milestone recently when Sr Stephen Brennan reached her 105th year, surrounded by family and friends. During the... TAGS Business news Share This AUTHOR Echo Staff