Shares of fast-fashion platform Shein fall 4% after quarterly profit slides 67%

Shares of the fast-fashion platform Shein experienced a decline between 4% and 6% following a significant drop in quarterly profit. Reports indicate that the company's quarterly profit slid by 67%, leading to the downward movement of its shares. This financial performance has impacted the market valuation of the platform as investors reacted to the sharp decrease in earnings reported for the period, highlighting a challenging quarter for the global fast-fashion entity in terms of profitability.