Shein’s UK sales jump 32% in 2024 as Hong Kong IPO nears

A shopper carries a bag with promotional merchandise while visiting fashion retailer Shein’s Christmas bus tour, in Manchester, Britain, December 13, 2024.  Temilade Adelaja | Reuters Shein’s U.K. arm generated £2.05 billion ($2.77 billion) in sales in 2024, up 32.3% from 2023, according to a filing released on Friday. The online fast-fashion retailer’s pre-tax profit…

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Watch live: Lutnick testifies before House on fiscal 2027 budget request

Commerce Secretary Howard Lutnick will testify before the House Appropriations Committee Thursday morning on President Trump’s fiscal 2027 budget request. The White House is requesting $9.2 billion in discretionary budget authority for the Commerce Department — a $1.3 billion decrease from 2026 levels, which includes cuts to climate research grants and other programs deemed “inadequate.”…

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Poshmark CEO and founder to step down

Fashion Recell Marketplace Poshamark Announced On Monday, its founder Manish Chandra is leaving the post as CEO. Namsun Kim, who has served as the Executive Chairman since April, has been appointed as his successor. Chandra founded a poshmark in 2011 with three of his co-founders in a garage in Silicon Valley. in the lead, The…

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