Double-Digit Gains Over Past Three Quarters Contribute to Comparable Store

Sales Increase of 9.3% and Total Retail Sales Increase of 16.5% in 2003

LOS ANGELES, Jan. 8 /PRNewswire-FirstCall/ -- Guess?, Inc. (NYSE: GES) today reported that total December retail sales for the fiscal month ended December 31, 2003 rose 20.0% to $70.6 million from $58.8 million for the month ended December 31, 2002. Comparable store sales for the December period increased 13.1%.

Fiscal December 2003 included 32 days compared to 31 days in the December 2002 fiscal period. On a comparable 31-day basis, comparable store sales for December 2003 increased 11.3%.

Paul Marciano, Co-Chairman and Co-Chief Executive Officer, commented, "We are very pleased with our retail sales performance in December, which continued the strong sales growth that Guess? achieved over the past three quarters. During 2003, we successfully focused on delivering product offerings that would generate strong appeal in the market. In 2004, we will continue to further enhance our product offerings to drive growth over the long term."

For the fourth quarter ended December 31, 2003, total retail sales increased 17.8% to $154.2 million compared to $130.9 million for the fourth quarter of 2002. Comparable store sales increased 11.7% during the fourth quarter of 2003.

For the fiscal year ended December 31, 2003, total retail sales increased 16.5% to $447.7 million compared to $384.5 million for the prior fiscal year. Comparable store sales increased 9.3% for the 2003 fiscal year.

Guess?, Inc. designs, markets, distributes and licenses one of the world's leading lifestyle collections of contemporary apparel, accessories and related consumer products.

Except for historical information contained herein, certain matters discussed in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are only expectations, and involve known and unknown risks and uncertainties, which may cause actual results in future periods and other future events to differ materially from what is currently anticipated. Factors which may cause actual results in future periods to differ from current expectations include, among other things, the continued availability of sufficient working capital, the successful integration of new stores into existing operations, the continued desirability and customer acceptance of existing and future product lines (including licensed product lines), possible cancellations of wholesale orders, the success of competitive products, and the availability of adequate sources of capital. In addition to these factors, the economic and other factors identified in the Company's most recent annual report on Form 10-K for the fiscal year ended December 31, 2002 including but not limited to the risk factors discussed therein, could affect the forward-looking statements contained herein and in the Company's other public documents.

For further information, please contact Carlos Alberini, President & Chief Operating Officer, +1-213-765-3582, or Frederick G. Silny, SVP & Chief Financial Officer, +1-213-765-3504, both of Guess?, Inc.; or Molly Morse of Kekst and Company, +1-212-521-4800, for Guess?, Inc.

SOURCE  Guess?, Inc.
    -0-                             01/08/2004
    /CONTACT:  Carlos Alberini, President & Chief Operating Officer,
+1-213-765-3582, or Frederick G. Silny, SVP & Chief Financial Officer,
+1-213-765-3504, both of Guess?, Inc.; or Molly Morse of Kekst and Company,
+1-212-521-4800, for Guess?, Inc./
    (GES)

CO:  Guess?, Inc.
ST:  California
IN:  REA FAS HOU TEX
SU:  SLS

AC-JH 
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2998 01/08/2004 07:00 EST http://www.prnewswire.com