March's same store sales figures were generally lower, but were mostly better-than-expected. The Gap reported a 8% drop last month (-9.9% expected) compared to one-year ago, while Limited Brands saw a 9% decline (-12% expected) in comparable store sales year-over-year. Despite still being stuck in the growth doldrums, Gap's vertical integration might help it emerge quicker from the significant downturn in consumer spending while Limited Brands' Victoria's Secret division is the best positioned segment of all the divisions between the two companies. In the end, a trendier brand like Abercrombie (ANF) may be better poised to capture market share than either Gap or Limited.
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