LOS ANGELES, Jan. 27 /PRNewswire-FirstCall/ -- Guess?, Inc. (NYSE: GES) announced that the Securities and Exchange Commission has declared its Registration Statement on Form S-3 (File No. 333-111895) effective as of January 26, 2004, registering the sale of up to 5,700,000 shares of the Company's common stock on behalf of Paul and Maurice Marciano. Messrs. Marciano are the Company's Co-Chief Executive Officers, Co-Chairmen and majority shareholders.
As announced on January 13, 2004, the offering will not increase the number of the Company's outstanding shares or dilute ownership of the Company's existing shareholders. The Company will not receive any proceeds from any sale of shares by the selling shareholders.
Messrs. Marciano have indicated that the purpose of the offering is for investment portfolio diversification and to increase the availability of the Company's common stock. They intend to sell from time-to-time in open market transactions in compliance with the Company's securities trading policies, and at this time do not intend to sell in an underwritten offering. Together, Messrs. Marciano currently own approximately 67.9% of the Company's stock. If all of the registered shares were sold, their combined holdings would be reduced to approximately 54.9% of the Company's common stock.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state. Any offer of these securities will be made solely by means of the prospectus included in the registration statement and any prospectus supplement that may be issued with respect to such offering.
Guess?, Inc. designs, markets, distributes and licenses a lifestyle collection 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.
Contact: Carlos Alberini
President & Chief Operating Officer
(213) 765-3582
Frederick G. Silny
SVP & Chief Financial Officer
(213) 765-3504
Wendi Kopsick/Molly Morse
Kekst and Company
(212) 521-4800
SOURCE Guess?, Inc.
-0- 01/27/2004
/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 Wendi Kopsick or Molly Morse, both
of Kekst and Company, +1-212-521-4800, for Guess?, Inc./
/Web site: http://www.guess.com /
(GES)
CO: Guess?, Inc.
ST: California
IN: TEX FAS
SU: OFR
CT-CD
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3682 01/27/2004 14:33 EST http://www.prnewswire.com