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00:02Shine reported a first quarter loss in slower revenue growth as the fast fashion retailer
00:07disclosed detailed financial results ahead of its planned Hong Kong IPO, according to Bloomberg.
00:12The company posted a $99 million loss compared with a $395 million profit a year earlier,
00:19while revenue rose to $9.05 billion from $8.95 billion. First quarter operating income fell
00:2626% to $258 million, while full-year 2025 profit declined to $2.06 billion from $3.37 billion in
00:342024. Shine said the quarterly loss was driven by a $328 million fair value loss on convertible
00:41redeemable preferred shares. The company cited U.S. tariffs, the removal of the de minimis exemption,
00:48and growing competition from Temu as factors weighing on growth. It warned that new European
00:53union customs rules could have a similar or greater impact on its business.
00:57For all things money, visit Benzinga.com.
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