Tesla shares fell 2% after UBS downgraded the stock, warning that its value may be inflated by AI hype rather than actual business progress.

FTI Consulting forecasts U.S. online retail sales to reach $1.2 trillion in 2024, a nearly 10% increase from 2023, capturing 22.7% of the retail market. E-commerce continues to grow at a high single-digit rate, impacting traditional retailers and driving the push for omni-channel integration and tech innovation, even as the sector matures post-COVID.

Lululemon faces a class-action lawsuit for allegedly misleading consumers with its “Be Planet” campaign, accused of failing to meet sustainability claims and increasing emissions. The lawsuit also criticizes its “Like New” resale program. Lululemon maintains its commitment to sustainability.

A Senate report led by Bernie Sanders claims Amazon's warehouses are dangerous during Prime Day, with nearly half of workers injured in 2019. Amazon disputes this, citing outdated data and safety improvements.

Italy's competition watchdog is investigating Giorgio Armani and Christian Dior Italy for alleged worker abuse by their suppliers. The brands are accused of underpaying and mistreating workers. Armani denies the claims, while Dior has severed ties with the implicated suppliers.

J. Crew Group's combined sustainability report for J. Crew and Madewell highlights 2023 progress in emissions reduction, sustainable fiber sourcing, and expanding resale programs.

Former Whitbread executive Nigel Jones has assumed the position of chief operating officer at Primark and will be responsible for the business's supply chain operations.

Second quarter (Q2) earnings at German fashion brand Hugo Boss have dived 42% to €70m ($76.6m) on the back of softer sales trends.

Calik Denim highlighted its biodegradable B210 technology and regenerative agriculture efforts at the UN Fashion and Lifestyle Network meeting, showcasing their commitment to sustainable and responsible fashion production.

US retailer Macy's has terminated its buyout discussions with investment firm Arkhouse Management Co LP (Arkhouse) and its partner Brigade Capital Management (Brigade) with an industry expert noting neither party offered "long-term value".

German sports retailer Puma has scaled its textile-to-textile recycling innovation RE:FIBRE to make all its replica football kits with a minimum of 75% recycled textile waste.

ICE cotton prices dropped again yesterday, with December and March 2025 contracts falling by 107 and 95 points, respectively.