Foot Locker posted a Q2 net loss of $38 million as sales fell 2.4 per cent to $1.85 billion, with comparable sales down 2 per cent.
North America rose 1.4 per cent but Europe and Asia Pacific dropped 10.3 per cent.
Gross margin slipped 50 bps and SG&A deleveraged.
The retailer closed 11 stores, ending with 2,354.
Shareholders approved its $8.6 billion sale to Dick’s, set to close September 8.

The Indian government has prolonged the import duty exemption on cotton until December 31st to aid the textile industry during the festive season, following a drop in domestic cotton production. This move aims to lower input costs for exporters, especially after the US imposed a 50% tariff on Indian goods.

Majority of used footwear still going to landfill or incineration.
Circular transition remains uneven and far from universal.
Many initiatives remain pilots rather than large-scale solutions.
Challenges in scaling recycling infrastructure, ensuring transparency, and avoiding greenwashing persist.
Policy and regulation will be decisive in shaping the industry’s next steps.

Guess?, returned to profit in Q2 FY26 with GAAP net earnings of $6.2 million versus a $10.6 million loss last year.
Revenue rose 6 per cent to $772.9 million, driven by Europe, but Americas retail, wholesale and Asia weakened.
Operating margins shrank sharply, and H1 showed a $26.7 million loss, highlighting ongoing cost and demand pressures.

India’s natural diamond polishing industry is bracing for a significant revenue drop of 28-30%, potentially hitting a low not seen since 2007, due to new US tariffs and declining global demand. Competition from lab-grown diamonds and subdued demand from China exacerbate the situation.

JD Sports has reported resilient Q2 results with stronger North America sales but softer UK and Europe due to Euro 2024 comparatives.
Apparel outperformed while footwear slowed.
H1 gross margin slipped 40–60bps on online price investments.
Strategic milestones included new stores, e-commerce and distribution centres.
FY26 profit guidance reaffirmed; £100 million (~$135 million) share buyback announced.

This has turned out to be precarious moment for the Indian garment industry as the implications of US tariffs extend far beyond financial figures. They touch the lives of countless workers who depend on the industry for their livelihoods, highlighting the fragile nature of global trade dynamics and their profound impact on local economies.

To give relief to the textile sector from the US tariffs, the Central Government on Thursday announced to extend the exemption of import duty on cotton till December 31, 2025. The move is aimed at ensuring adequate availability of cotton for the domestic textile industry, according to a Ministry of Finance press release. It also stated that further notifications will follow.

Hexafun, a lifestyle accessories brand, has secured Rs 4.5 crore in seed funding from Prajay Advisors, with capitalCORN acting as the transaction advisor. The company plans to use the funds to expand its retail footprint, ramp up marketing efforts, and introduce new product lines.

ATHLETIFREAK, a US-based luxury activewear brand, has launched its first Indian store in New Delhi, marking its entry into Asia. In partnership with strategic investors and brand ambassadors Mira and Shahid Kapoor, the brand aims to tap into India’s growing fitness market. With plans to expand to Mumbai, Bengaluru, and Hyderabad, ATHLETIFREAK anticipates India contributing significantly to its global business.