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88The Business of Fashion News Analysis Topics More Careers Community Subscribe About Us TODAYx27S MUST READAs the fashion industry takes a breather in August luxury brands grapple with creative leadership gaps plummeting profits and evolving consumer priorities raising questions about whether current struggles signal a permanent shift in the market landscape writes Imran Amed. TODAYx27S MUST READAs the fashion industry takes a breather in August luxury brands grapple with creative leadership gaps plummeting profits and evolving consumer priorities raising questions about whether current struggles signal a permanent shift in the market landscape writes Imran Amed. ADVERTISEMENT ADVERTISEMENT ADVERTISEMENT Amazon Shares Tumble on Slowing Online Sales Growth The retailers shares dropped more than 8 percent after the company reported only 5 percent growth in online store sales for the second quarter highlighting a shift in consumer behaviour towards cheaper options as spending slows. Snap Shares Plummet as Weak Outlook Intensifies Ad Competition Fears The companys shares plunged 17 percent in premarket trading following a disappointing forecast that highlighted ongoing challenges in the advertising market raising concerns about Snaps ability to compete against larger rivals like Meta and Google.