Reports of Gap’s early demise may have been exaggerated. The no. 1 clothing retailer in the US posted a 51% increase in profit on tighter cost controls and inventory management. Amid all the success there were some ominous signs.
Zara has become the Number 1 retailer in the world overcoming perennial leader Gap. The Spain based retailer’s parent company Inditex known for it’s fast fashion has seen a 9% increase in sales to €2.22bn (£1.7bn) in the first quarter of the financial year.
