Fast fashion e-tailer Shein wants to eliminate ¼ of emissions within the decade
Shein, the fast fashion giant that has taken the younger generations by storm, is looking to switch up their image. Known for selling clothing items online for a low price tag, the retailer has faced wave after wave of criticism for its carbon footprint - a whopping estimated 6.3 million tons of carbon dioxide emissions just in 2021 alone.
Adam Winston, global head of ESG at Shein, announced the company’s plans of reducing its carbon footprint by 25% by the year 2030 - a monumental goal. Their goals have been outlined to also include working with their suppliers to modify sustainability practices in their companies, as well.
There has been an industry-wide push to reduce emissions over the past several years. Shein competitor H&M announced a similar goal of reaching 100% recycled or sustainable materials by 2030.
U.S. retailers are gearing up for a cautious but steady holiday season, focusing on mid-range price items, according to a CNBC Supply Chain Survey.
In response to pushback from conservative activists, Target has decided to limit the in-store availability of its Pride Month Collection to roughly half of its 2,000 stores.
Costco, the membership-only warehouse chain, has significantly expanded across the U.S., boasting over 600 locations.c
The Nordstrom family is looking into the possibility of taking their department store private, with a special committee set up to review potential bids.
A significant project in Morocco aimed at revolutionizing renewable energy has hit a major roadblock.
Inditex, the parent company of Zara, saw a surge in its stock prices, hitting record highs after reporting robust early spring sales.
Macy’s announced plans to shutter 150 stores over three years and 50 by the end of 2024 following a fourth-quarter loss and declining sales.
Walmart's CEO, Doug McMillon, recently unveiled sweeping changes in customer shopping experiences during a fourth-quarter earnings call with investors.
Alibaba Group Holding Ltd. revealed a deeper involvement of Chinese government entities in its various business arms following an inquiry from the US Securities and Exchange Commission.
J.B. Hunt Transport Services has struck a long-term deal with Walmart, snagging their intermodal assets and committing to volume and capacity provisions.
The rise of fast-fashion e-commerce giants like Shein and Temu is shaking up the global air cargo sector, according to industry insiders.
Walmart has announced its acquisition of TV maker Vizio for $2.3 billion in cash, aiming to bolster its profitable advertising business.
Investor groups are urging EU countries to support a proposed law, the Corporate Sustainability Due Diligence Directive, which would hold large companies accountable for environmental and human rights violations in their supply chains.
Walmart, already a retail giant, is aiming to get even bigger. Over the next five years, the company plans to build or convert more than 150 large-format stores, with some expanding from smaller locations into Supercenters offering groceries and merchandise.
Walmart has unveiled its largest drone delivery expansion plan, covering 1.8 million households in the Dallas-Fort Worth area.
During the holiday season, online spending hit a record high, increasing by 4.9% year over year, totaling $222.1 billion, according to Adobe Analytics.
Lazada, the Southeast Asian e-commerce platform owned by Alibaba, has initiated a new round of layoffs that will be affecting employees across all Southeast Asian markets.
Nike's shares tumbled over 10% after the company revised its revenue outlook for the fiscal year, anticipating just 1% growth instead of mid-single-digit growth, citing challenges in Greater China and EMEA, digital traffic softness, and a stronger U.S. dollar.
Amazon is feeling the pressure from fast-fashion app Shein and has decided to cut referral fees for cheap clothing items in an effort to compete.
In November, Americans increased their spending ahead of the holiday season, with retail sales rising by 0.3%, surpassing expectations and reversing the decline recorded in October.
A recent Fox News poll revealed that more than 75% of Americans are worried about the state of the economy.
Deforestation in Brazil's Amazon decreased by 22.3% in the 12 months through July, marking the smallest area cleared since 2018, according to government data from the Brazilian space research agency Inpe.
Delhi and its surrounding areas are grappling with hazardous levels of smog, with an air quality index as high as 800 in some places, far above the safe range.
Walmart's stock reached an all-time high, hitting $166.30, as investors anticipate the retail giant to outperform its competitors during the holiday season due to its reputation for offering value.
Holiday shoppers are expected to increase their spending this year, but their focus on value and deals is likely to limit growth to pre-pandemic levels, says the National Retail Federation (NRF).
President Biden has unveiled a series of investments totaling over $5 billion as part of his commitment to rural America.
Shein, the fast-fashion retailer with a reported valuation of $66 billion, is looking to go public but faces several hurdles.
Longtime Costco CEO Craig Jelinek will retire at the end of the year, and he will be succeeded by Ron Vachris, who has been with the company for 40 years.
Rite Aid, a debt-laden U.S. pharmacy chain, has filed for bankruptcy protection and plans to close underperforming stores, sell its pharmacy benefit subsidiary Elixir, and address lawsuits related to the sale of addictive opioid medications.
A skit on "Saturday Night Live" recently spoofed fast fashion brands Shein and Temu, highlighting the industry's dark side.