Is this Gap advert racist?

Is this Gap advert racist? Trending on the BBC is this advertisement by the Gap clothing store, which is generating lots of anger on Twitter for being racist:

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The company has now apologized and said it will pull the image from its campaign.

However this advertisement, run by the same company some years ago, was not protested as racist, and in fact many of the same people who call the first photo “racist” have defended the second photo as “not racist”:

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Isn’t this like hunting witches, a few centuries ago?

The definition of “racism” has move a long, long way from its original meaning of treating people differently according to their race. It used to mean a form of prejudice — literally pre-judgement based on skin color — which is obviously bad. Modern PC people however are clearly and thoroughly prejudiced about skin color and race, yet loudly claim everyone else is “racist.” Got to admire their front and their marketing skills for not being laughed off, and for getting people fired if they disagree.