Fast-Fashion’s Rapid Growth Starts To Slow

The rocket ship that fast-fashion retailers have ridden during the past few years appears to be running out of fuel. EZ Worldwide Express, a shipping firm that handled clothing deliveries for Forever 21, has cut ties with the low-price retail chain because business tapered so dramatically that it was no longer profitable to work with them, according to The Wall Street Journal. The report, citing a court document filed in May, said EZ Worldwide Express’ weekly sales to the retailer have ranged from $352,483 to $428,764. Those figures were “drastically lower than the same five-week period last year, where weekly sales ranged from $629,817 to $780,730,” the document said, according to the Journal. EZ Worldwide filed for Chapter 11 bankruptcy protection in January. Forever 21 accounted for nearly half its annual revenue of $25 million to $30 million, according to the newspaper. Read more at CNBC.