Costs extra energy to produce the heat to do that and they don’t care. From their point of view: What are you gonna do, not buy clothes?
Realistically it should be cheaper for them to do that at 1 central place with a large efficient machine vs every individual person having to create that heat energy in their home with smaller inefficient machines (similar to how powerplants are more efficient at creating energy vs individual ICE cars). So it’d technically be better if they did, at least if they cared about environmental damage.
Fashion companies cheaping out. Historically they would have been, and any home sewist will list this as one of the reasons it’s important to pre-wash fabrics, but big brands have realised they can make their fabric go further (and therefore save money) by not pre-shrinking and putting the onus on consumers to go to extra steps to care for clothes in a way that avoids shrinkage.
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