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As apparel retailers continue to digitize their businesses, redesign their stores and renew their product offerings, they are well-positioned to capitalize on consumers’ increased spending funded by discretionary budget savings last year. Consequently, the global apparel market is expected to hit $842.7 billion in 2025, growing at a 9.8% CAGR.
Thus, with their established retail chains and a digital presence, we believe apparel retail stocks The Gap Inc. (NYSE:GPS) and Carter’s Inc. (CRI) would be wise bets now because they might witness a solid increase in sales going forward.
