Shein Revenue Neared $10 Billion in Quarter Before Tariffs (1)

Shein Group Ltd.’s net income rose to over $400 million and revenue was almost $10 billion in the first quarter as consumers snapped up the fast-fashion retailer’s products ahead of US tariffs, according to people familiar with the matter.

The performance helped lift the company’s profit margin to about 5%, the people said, asking not to be identified because the figures were disclosed confidentially.

Shein said in an emailed statement that “the data is inaccurate” without elaborating.

The company’s path toward an initial public offering has developed into a saga, with an initial plan to list in the US ...