The people have spoken, and fast fashion is top dog.

A new study has found that high-street retailers like H&M, Uniqlo and Urban Outfitters have earned higher profit margins and stronger revenue growth than department store and boutique competitors over the last 12 months, WWD reports.

The Sage Group LLC's Apparel and Retail Group analyzed 47 retailers in all to determine what stores had the best EBITDA (earnings before interest, taxes, depreciation and amortization as a percentage of sales) margin.

Hennes & Mauritz -- that's H&M to us common folk -- emerged as the clear victor, with a 23.4% margin (no doubt fueled by cheap-chic designer collaborations like their recent Matthew Williamson stint).

The Buckle Inc. (22.5%), Zara's Industria de Diseno Textil SA (20.3%), Urban Outfitters Inc. (19.8%) and Uniqlo's Fast Retailing Co. Ltd. (18.6%) rounded out the top five, WWD cited.

While the news was good for other mall fixtures like Gap Inc., department stores will see a bleaker picture. The first upscale department store to crack the list is Nordstrom, with an 11.4% margin, landing in 15th place, followed by Macy's (10.5%) in 18th place, WWD adds.

Of the mass "broadlines" retailer subset, Kohl's fared best, finishing in 11th place with a 12.6% margin.

In terms of annual growth rates, American Apparel took the lead, while Abercrombie & Fitch boasted the best gross margin over the past year, with 65.1% of sales, according to WWD.

Overall, Sage found that fast fashion stock prices have gained 17.3% over the last 12 months, while department stores involved in the study (specifically, Macy's, JCPenney, Nordstrom, and Dillard's) declined by 17.8%, reports the site.

Of course, none of this is news to anyone who's read the financial headlines lately. When times are tough, spending $30 on an H&M dress makes much more sense than blowing $300 on a designer frock at a department store.

Click here to see why we'll no doubt be flocking to H&M this fall.