Gap Inc. posted a 40 percent hike in first-quarter profit on the backbone of tight inventory and cost controls. Same-store sales fell 11 percent but some analysts still believe that the retailer's long-awaited turnaround may finally be taking hold. Gap has been able to avoid dramatic markdowns that had become commonplace across its banners by more effectively managing inventory. Do you think the Gap's low cost/tight inventory is a smart move for the company at this time?

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