Despite reduced inventory, comparable-store sales were up 4 percent from the first quarter of 2003.
After the market closed, the Gap, which has been struggling to get the fashion beat right all year, reported comparable-store sales down 1 percent.
Comparable-store sales are considered to be a more accurate reflection of a retailer's performance.
A. First, there has been a slowdown in comparable-store sales and a heating up of the competitive environment.
The Gap's comparable-store sales increased 14 percent in December from a year earlier.
Comparable-store sales, or sales in stores open at least on year, dropped 6.8 percent last month.
Comparable-store sales - sales in stores open at least one year - were up 2.6 percent.
But this year's comparable-store sales, for stores open at least a year, , increased 1.3 percent.
The company sold 14 stores since last year, making comparable-store sales the only relevant comparison, the company said.
The company's comparable-store sales grew by 1 percent.
