Shein's $99m Q1 Loss: The End of Duty-Free Parcels

Shein posted a $99m Q1 2026 loss, reversing a $395m profit a year earlier, after the US scrapped the de minimis rule that let low-value parcels enter duty-free. The shift raised shipping costs on the direct-to-consumer model central to Shein's US sales, eroding a structural advantage and deepening its valuation decline.