$_ = 'A /gif/cart.gif is a /gif/cart.gif';
s#/(gif/.*\.gif)#$1#g;     # Only replaced first one
print "NEW1: $_\n";

$_ = 'A /gif/cart.gif is a /gif/cart.gif';
s#/(gif/\w*\.gif)#$1#g;    # This one works 
print "NEW2: $_\n";