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<SEC-DOCUMENT>0001104659-07-021742.txt : 20070323
<SEC-HEADER>0001104659-07-021742.hdr.sgml : 20070323
<ACCEPTANCE-DATETIME>20070322205414
ACCESSION NUMBER:		0001104659-07-021742
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20070319
ITEM INFORMATION:		Changes in Registrant.s Certifying Accountant
ITEM INFORMATION:		Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20070323
DATE AS OF CHANGE:		20070322

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GUESS INC
		CENTRAL INDEX KEY:			0000912463
		STANDARD INDUSTRIAL CLASSIFICATION:	WOMEN'S, MISSES', CHILDREN'S & INFANTS' UNDERGARMENTS [2340]
		IRS NUMBER:				953679695
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11893
		FILM NUMBER:		07713234

	BUSINESS ADDRESS:	
		STREET 1:		ATTN:  ANGELINA ORONA
		STREET 2:		1444 SOUTH ALAMEDA STREET
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90021
		BUSINESS PHONE:		(213) 765-3100

	MAIL ADDRESS:	
		STREET 1:		ATTN:  ANGELINA ORONA
		STREET 2:		1444 SOUTH ALAMEDA STREET
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90021

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GUESS INC ET AL/CA/
		DATE OF NAME CHANGE:	19940902
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a07-8762_18k.htm
<DESCRIPTION>8-K
<TEXT>
<html>

<head>







</head>

<body lang="EN-US">

<div style="font-family:Times New Roman;">
 <div style="border:none;border-top:double windowtext 6.0pt;padding:0pt 0pt 0pt 0pt;"> <p style="border:none;margin:0pt 0pt .0001pt;padding:0pt;"><a name="scotch"></a><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p> </div>

<p style="font-weight:bold;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">WASHINGTON,
D.C. 20549</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">FORM 8-K</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;">CURRENT REPORT</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant
to Section 13 or 15(d) of the<br>
Securities Exchange Act of 1934</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date
of Report (Date of earliest event reported): March 19, 2007</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">GUESS?, INC.</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Exact name of registrant
as specified in its charter)</font></p>

<p align="center" style="font-size:10.0pt;margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Delaware</font></b><br>
(State or other jurisdiction of incorporation)</p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="font-size:10.0pt;margin:0pt 0pt .0001pt;text-align:center;"><!-- SET mrlNoTableShading --><b>1-11893</b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.38%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">95-3679695</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Commission File
  Number)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.38%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="48%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:48.8%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(IRS Employer
  Identification No.)</font></p>
  </td>
 </tr>
</table>

</div>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="font-size:10.0pt;margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1444 S.
Alameda Street Los Angeles, California 90021</font></b><br>
(Address of principal executive offices) (Zip Code)</p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Registrant&#146;s telephone
number, including area code: <b>(213) 765-3100</b></font></p>

<p align="center" style="font-size:10.0pt;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Not
applicable</font></b><br>
(Former name or former address, if changed since last report)</p>

<p style="margin:0pt 0pt 12.0pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:</font></p>

<p style="font-size:10.0pt;margin:0pt 0pt 12.0pt 20.0pt;text-indent:-20.0pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p>

<p style="font-size:10.0pt;margin:0pt 0pt 12.0pt 20.0pt;text-indent:-20.0pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</p>

<p style="font-size:10.0pt;margin:0pt 0pt 12.0pt 20.0pt;text-indent:-20.0pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))</p>

<p style="font-size:10.0pt;margin:0pt 0pt 12.0pt 20.0pt;text-indent:-20.0pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))</p>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>


 <div style="border:none;border-bottom:double windowtext 6.0pt;padding:0pt 0pt 0pt 0pt;"> <p style="border:none;margin:0pt 0pt .0001pt;padding:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p> </div>
</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 4.01 Changes in Registrant&#146;s
Certifying Accountant.</font></b></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&#160; On March
19, 2007, the Audit Committee (the &#147;Audit Committee&#148;) of the Board of Directors
of Guess?, Inc. (the &#147;Company&#148;) approved the dismissal of KPMG LLP (&#147;KPMG&#148;) as
the Company&#146;s independent registered public accounting firm, effective upon the
completion of KPMG&#146;s audit of the Company&#146;s financial statements as of and for
the fiscal month transition period ended February 3, 2007.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The audit reports of KPMG on the Company&#146;s consolidated
financial statements as of and for the years ended December 31, 2006 and 2005
did not contain an adverse opinion or a disclaimer of opinion, and were not
qualified or modified as to uncertainty, audit scope or accounting principles except for the 2006 audit report which refers
to the adoption of Statement of Financial Accounting Standards No. 123 (R), &#147;Share-Based
Payment&#148; effective January 1, 2006 and the adoption of Statement of Financial
Accounting Standards No. 158, &#147;Employers&#146; Accounting for Defined Benefit
Pension and Other Postretirement Plans &#150; an amendment to FASB Statements No.
87, 88, 106, and 132 (R),&#148; as of December 31, 2006.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">The audit reports of KPMG on
management&#146;s assessment of the effectiveness of internal control over financial
reporting and the effectiveness of internal control over financial reporting as
of December 31, 2006 and 2005 did not contain an adverse opinion or disclaimer
of opinion, and were not qualified or modified as to uncertainty, audit scope
or accounting principles except for the 2005 report which excluded the
assessment of effectiveness of internal control over financial reporting
relating to Maco Apparel S.p.A., a wholly-owned subsidiary acquired during
2005, and except for the 2006 report which excluded the assessment of
effectiveness of internal control over financial reporting relating to Focus
Europe S.r.l., a majority-owned subsidiary acquired during 2006.&#160; The exclusions relating to Maco Apparel
S.p.A. and Focus Europe S.r.l. described above were consistent with </font>published
guidance of the Securities and Exchange Commission.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">During the fiscal years ended December 31, 2006 and
2005 and through March 19, 2007, there were (1) no disagreements with KPMG on
any matter of accounting principles or practices, financial statement
disclosure, or auditing scope or procedure, which disagreements, if not
resolved to the satisfaction of KPMG, would have caused KPMG to make reference
to the subject matter of the disagreement in connection with its reports on the
Company&#146;s financial statements for such periods, and (2) no reportable events
as defined in Item 304(a)(1)(v) of Regulation S-K.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Company has provided KPMG with a copy of this Form
8-K and requested that KPMG furnish it with a letter addressed to the
Securities and Exchange Commission stating whether it agrees with the
statements made by the Company herein and, if not, stating the respects in
which it does not agree.&#160; A letter from
KPMG, dated as of March 22, 2007 regarding its concurrence with these
statements, is attached hereto as Exhibit 16.1.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&#160; On March
19, 2007, the Audit Committee of the Company appointed Ernst &amp; Young LLP (&#147;E&amp;Y&#148;)
as the Company&#146;s new independent registered public accounting firm beginning
with the fiscal year ending February 2, 2008.&#160;
During the two most recent fiscal years and through March 19, 2007, the
Company did not consult with E&amp;Y regarding either (1) the application of
accounting principles to any specific completed or proposed transaction, (2)
the type of audit opinion that might be rendered on the Company&#146;s financial
statements or (3) any matters or reportable events as set forth in Item
304(a)(1)(iv) and (v) of Regulation S-K.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 5.02 Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.</font></b></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Guess?, Inc. (the &#147;Company&#148;) maintains an annual
executive compensation program, pursuant to which certain employees of the
Company are eligible to receive cash bonuses and equity incentive awards,
including stock options, restricted stock, restricted stock units and/or
performance shares (&#147;Equity Incentives&#148;), upon achievement of pre-established
performance goals.&#160; Any Equity Incentives
awarded under the executive compensation program will be granted pursuant to the
terms of the existing Guess?, Inc. 2004 Equity Incentive Plan, previously
approved by the shareholders of the Company on May&nbsp;10, 2004 and filed
April&nbsp;14, 2004 as Exhibit A to the Company&#146;s 2004 Definitive Proxy
Statement, as amended (the &#147;2004 Plan&#148;).&#160;
Any cash bonuses awarded under the executive compensation program will
be granted pursuant to the terms of the 2004 Plan or the existing Guess?, Inc.
Annual Incentive Bonus Plan, previously approved by the shareholders of the
Company on May 10, 2005 and filed April&nbsp;15, 2005 as Appendix A to the
Company&#146;s 2005 Definitive Proxy Statement, as amended.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On March 19, 2007, the Compensation Committee of the
Board of Directors of the Company established performance goals under the
annual executive compensation program for the current fiscal year ending
February 2, 2008 for its executive officers.&#160;
The performance goals vary by individual and are based on earnings per
share of the Company or particular segments thereof, operating earnings by
segment or, in certain cases, gross margins by segment.&#160; The performance goals with respect to the
individuals that may be designated as Named Executive Officers in the Company&#146;s
2007 Proxy Statement are based on (i) for Paul Marciano, Chief Executive
Officer, total Company earnings per share and licensing operating earnings,
(ii) for Maurice Marciano, Chairman of the Board, Carlos Alberini, President
and Chief Operating Officer, Dennis Secor, Senior Vice President and Chief
Financial Officer, Michael Relich, Senior Vice President and Chief Information
Officer, and Stephen Pearson, Executive Vice President and Chief Supply Chain
Officer, total Company earnings per share, and (iii) for Nancy Shachtman,
President of Wholesale, earnings per share for North American operations and
North American wholesale gross margin (adjusted for specified direct
expenses).&#160; Upon achievement of such
pre-established performance goals, incentive amounts will be payable in
pre-established combinations of cash, stock options and restricted stock or
performance shares.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 9.01 Financial Statements and Exhibits</font></b>.<a name="Item9_01_FinancialStatementsAndEx_193956"></a></p>

<p style="margin:0pt 0pt 12.0pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d) Exhibits.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt 36.0pt;text-indent:-36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16.1</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Letter
from KPMG LLP to the Securities and Exchange Commission dated March&#160; 22, 2007</p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p align="center" style="margin:0pt 0pt .0001pt 36.0pt;text-align:center;text-autospace:none;text-indent:-36.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SIGNATURES</font></b></p>

<p style="margin:0pt 0pt 12.0pt;page-break-after:avoid;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the
requirements of the Securities Exchange Act of 1934, the Registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="53%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:53.34%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading -->Dated: March 22, 2007</p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="43%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:43.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">GUESS?, INC.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="53%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:53.34%;">
  <p style="margin:12.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.34%;">
  <p style="margin:12.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.44%;">
  <p style="margin:12.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="38%" valign="top" style="border:none;border-bottom:solid #000A03 1.0pt;padding:0pt .7pt 0pt 0pt;width:38.88%;">
  <p style="margin:12.0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Carlos Alberini</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="53%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:53.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.44%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="38%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:38.88%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Carlos Alberini</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="53%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:53.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:3.34%;">
  <p style="margin:0pt 0pt .0001pt;"><i><font size="2" face="Times New Roman" style="font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.44%;">
  <p style="margin:0pt 0pt .0001pt;"><i><font size="2" face="Times New Roman" style="font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>
  </td>
  <td width="38%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:38.88%;">
  <p style="margin:0pt 0pt .0001pt;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">President and Chief Operating Officer</font></i></p>
  </td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">EXHIBIT
INDEX</font></b></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:9.92%;">
  <p style="font-size:8.0pt;font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><!-- SET mrlNoTableShading -->Exhibit No.</p>
  </td>
  <td width="1%" valign="bottom" style="padding:0pt .7pt 0pt 0pt;width:1.98%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></p>
  </td>
  <td width="88%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:88.1%;">
  <p style="font-weight:bold;line-height:8.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;">Description</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="9%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:9.92%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16.1</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:1.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="88%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:88.1%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Letter from KPMG LLP to the Securities and Exchange
  Commission dated March 22, 2007</font></p>
  </td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>


 <p style="margin:24.0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>
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<TYPE>EX-16.1
<SEQUENCE>2
<FILENAME>a07-8762_1ex16d1.htm
<DESCRIPTION>EX-16.1
<TEXT>
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<head>






</head>

<body lang="EN-US">

<div style="font-family:Times New Roman;">


<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr height="59" style="height:44.4pt;">
  <td width="100%" colspan="3" height="59" valign="top" style="height:44.4pt;padding:0pt 0pt 0pt 0pt 0pt 0pt 0pt 0pt;width:100.0%;">
  <p style="font-weight:bold;margin:0pt 0pt .0001pt;page-break-after:avoid;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exhibit 16.1</font></b></p>
  </td>
 </tr>
 <tr height="59" style="height:44.4pt;">
  <td width="32%" height="59" valign="top" style="height:44.4pt;padding:0pt 0pt 0pt 0pt;width:32.14%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><img width="93" height="40" src="g87621kei001.jpg"> </font></p>
  </td>
  <td width="32%" height="59" valign="top" style="height:44.4pt;padding:0pt 0pt 0pt 0pt;width:32.16%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">KPMG LLP<br>
  </font></b>Suite 2000<br>
  355 South Grand Avenue<br>
  Los Angeles, CA&nbsp; 90071-1568</p>
  </td>
  <td width="35%" height="59" valign="bottom" style="height:44.4pt;padding:0pt 0pt 0pt 0pt;width:35.68%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Telephone&nbsp;&nbsp;
  213 972 4000<br>
  Fax&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 213 622 1217<br>
  Internet&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; www.us.kpmg.com</font></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">March 22, 2007</font></p>

<p style="font-size:10.0pt;margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">Securities and Exchange
Commission</font><br>
</font>Washington, D.C. 20549</p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Ladies and Gentlemen:</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We are currently principal
accountants for Guess?, Inc. and, under the date of February 28, 2007, we
reported on the consolidated financial statements of Guess?, Inc. as of and for
the years ended December 31, 2006 and 2005, management&#146;s assessment of the
effectiveness of internal control over financial reporting as of December 31,
2006, and the effectiveness of internal control over financial reporting as of
December 31, 2006. On March 19, 2007, we were notified that Guess?, Inc.
engaged Ernst &amp; Young LLP as its principal accountant for the year ending
February 2, 2008 and that the auditor-client relationship with KPMG LLP will
cease upon completion of the audit of Guess?, Inc.&#146;s consolidated financial
statements as of and for the one-month transition period ended February 3, 2007
and the issuance of our report thereon. We have read Guess?, Inc.&#146;s statements
included under Item 4.01(a) of its Form 8-K dated March 22, 2007, and we agree
with such statements, except that we are not in a position to agree or disagree
with Guess?, Inc.&#146;s statement that the change was approved by the Audit
Committee of the Board of Directors.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Very truly yours,</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ KPMG LLP</font></p>

<p style="margin:78.0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;letter-spacing:.2pt;">KPMG LLP</font>, a U.S. limited
liability partnership, is the U.S.<br>
member firm of KPMG International, a Swiss cooperative.</font></p>



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