The Financial Times reported on Sunday that the fast online retail stores fell more than a third of last year, which increased their challenges before a planned list on the London Stock Exchange, according to the Financial Times on Sunday.
The report said that net profit fell by approximately 40 % to one billion dollars in 2024, citing two people familiar with this issue.
The report said that Shen's sales for the full year increased by 19 % to 38 billion dollars, adding that the numbers were internal expectations before the final accounts.
The report added that the company does not publish profit instructions, but the numbers of 2024 were much lower than $ 4.8 billion of net profit and $ 45 billion of sales that it expected for 2024, citing a progress offered by the newspaper.
Shin did not immediately respond to a request for comment.
Reuters reported this month that Shein was to reduce its evaluation in the first planned public offering (IPO) in London by about a quarter of about 50 billion dollars. Bloomberg said last week that Shin was under pressure to reduce his evaluation of $ 30 billion.
The Financial Times also reported that the London list can be postponed to the second half of the year after US President Donald Trump moved to end the Shane's tax exemption, and may put profit and pay its prices in the United States.
