LOS ANGELES, Jul 2, 2003 (BUSINESS WIRE) -- Guess?, Inc. (NYSE:GES) today reported that total June retail sales for the four weeks ended June 28, 2003 were $29.2 million, an increase of 24.3% from sales of $23.5 million for the four weeks ended June 29, 2002. Comparable store sales for the June period increased 16.2%. Comparable store sales for the Company's full priced retail stores increased 16.3%, and comparable store sales at the factory outlet stores increased 15.8%.

Carlos Alberini, President and Chief Operating Officer, commented, "We are very pleased with the sales improvement we have achieved over the last few months. However, we remain cautious about our overall business, especially wholesale, given the continued difficult retail environment and ongoing pressures on margins."

For the second quarter ended June 28, 2003, total retail sales increased 19.8% to $95.7 million from $79.9 million for the second quarter of 2002. Comparable store sales for the quarter increased 11.7%.

Beginning with the announcement of July 2003 retail sales, which is scheduled for August 6, 2003, the Company will continue to report total comparable store sales changes for each month, but will no longer break out comparable store sales changes for retail and factory stores separately.

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 including but not limited to the Company's expected results of operations and plans to reduce costs and estimated charges, 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.

SOURCE: Guess?, Inc.

Guess?, Inc.
Carlos Alberini, 213/765-3582
Frederick G. Silny, 213/765-3289
or
Kekst and Company
Wendi Kopsick/Molly Morse, 212/521-4800

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