This excerpt taken from the GPS 10-K filed Mar 28, 2005.
March 25, 2005
Securities and Exchange Commission
450 5th Street, N.W.
Washington, D.C. 20549
Transmitted herewith via EDGAR is a copy of an Annual Report on Form 10-K for The Gap, Inc. for the fiscal year ended January 29, 2005. The consolidated financial statements included in this report reflect a change from the preceding year in accounting principals or practices, or in the method of applying any such principals or practices as follows: the accounting for lease incentives, the accounting for operating leases with scheduled rent, revenue recognition for online sales, and the capitalization policy for assets.
If you have questions with respect to the enclosed materials, please contact me at (415) 427-2139.