00:00It's Benzinga bringing Wall Street to Main Street
00:02Shine Global shares fell about 14 percent to a record low Tuesday after the fast fashion
00:07retailer's first earnings report since going public disappointed investors. According to
00:11The Wall Street Journal, second-quarter adjusted net income fell by two-thirds to $228 million,
00:17while revenue rose 0.9 percent to $11.08 billion.
00:21Jefferies analysts said earnings came in more than 10 percent below the low end of the range
00:25implied by Sheen's prospectus. U.S. revenue fell 6 percent, while European revenue dropped 14 percent.
00:31Sheen has faced tariff headwinds, mounting logistics costs, and higher freight costs from the conflict
00:36in the Middle East. The company expects uncertainty to continue in the second half of 2026,
00:42but anticipates stronger orders during the fourth-quarter promotional season.
00:45For all things money, visit Benzinga.com.
