Temu owner sees profit plunge
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New York Magazine on MSNTemu and Shein Might Just Be ScrewedTemu’s last quarter may plausibly be its worst, in tariff terms — the Trump administration has already de-escalated somewhat on broad tariffs and cross-border postal fees — but anything short of a total rollback is likely to be disastrous for the firm.
While the Trump administration announced a temporary trade deal Monday slashing tariffs on Chinese goods, the rules on de minimis deliveries still include a $100 charge.
Temu’s parent company, PDD Holding, saw shares fall about17% on Tuesday morning after reporting a major first-quarter earnings miss.
The American version of Temu abruptly began to show only “local” products days before the Trump administration was set to end a tariff loophole for small packages from China.
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Without the constant advertising presence, Temu’s and Shein’s apps have fallen ... had cut back on spending because of the changes to the shipping loophole. The company declined to provide ...
REUTERS That strategy change came as the firms rushed ... and 115% in France and 20% in the UK for Temu, according to the data. That advertising push has already helped Shein and Temu secure ...
Shopping on Temu for items at bargain prices has been ... and a meat shredder rose from $2.91 to $9.02 (219% increase). These changes are part of a broader trend where US shoppers are facing ...
Temu, which is owned by the Chinese e-commerce company PDD Holdings, said that its operating expenses have gone up “due to recent changes in global trade rules and tariffs.” As of Friday ...