<SEC-DOCUMENT>0000912463-22-000059.txt : 20220408
<SEC-HEADER>0000912463-22-000059.hdr.sgml : 20220408
<ACCEPTANCE-DATETIME>20220408080054
ACCESSION NUMBER:		0000912463-22-000059
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20220408
DATE AS OF CHANGE:		20220408

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:			0129

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11893
		FILM NUMBER:		22815433

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

	MAIL ADDRESS:	
		STREET 1:		ATTN:  JASON MILLER
		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>DEFA14A
<SEQUENCE>1
<FILENAME>ges4822.htm
<DESCRIPTION>DEFA14A
<TEXT>
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<title>Document</title></head><body><div id="ib68286664ad148eda43033eafd034a2d_1"></div><div style="min-height:36pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:700;line-height:100%">UNITED STATES<br>SECURITIES AND EXCHANGE COMMISSION<br>Washington, D.C. 20549</font></div><div style="margin-bottom:5pt;padding-left:180pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:10pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:700;line-height:100%">SCHEDULE 14A</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Proxy Statement Pursuant to Section 14(a) of the <br>Securities Exchange Act of 1934 (Amendment No. &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;)</font></div><div style="margin-bottom:5pt;padding-left:180pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#160;&#160;&#160;&#160;</font></div><div style="margin-bottom:1pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Filed by the Registrant &#9746;&#160;&#160;&#160;&#160;Filed by a Party other than the Registrant &#9744;</font></div><div style="margin-bottom:1pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Check the appropriate box&#58;</font></div><div style="margin-bottom:1pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#9744;&#160;&#160;&#160;&#160;Preliminary Proxy Statement</font></div><div style="margin-bottom:1pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#9744;&#160;&#160;&#160;&#160;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))</font></div><div style="margin-bottom:1pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#9744;&#160;&#160;&#160;&#160;Definitive Proxy Statement</font></div><div style="margin-bottom:1pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#9746;&#160;&#160;&#160;&#160;Definitive Additional Materials</font></div><div style="margin-bottom:5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#9744;&#160;&#160;&#160;&#160;Soliciting Material under &#167;240.14a-12</font></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:14pt;font-weight:700;line-height:100%">GUESS&#63;, INC.</font></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">(Name of Registrant as Specified In Its Charter)</font></td></tr><tr style="height:4pt"><td colspan="3" style="padding:0 1pt"></td></tr><tr style="height:9pt"><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:9pt;font-weight:700;line-height:100%">(Name of Person(s) Filing Proxy Statement, if other than the Registrant)</font></td></tr></table></div><div style="margin-bottom:2pt;margin-top:10pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Payment of Filing Fee (Check the appropriate box)&#58;</font></div><div style="margin-bottom:2pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#9746;&#160;&#160;&#160;&#160;No fee required.</font></div><div style="margin-bottom:2pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#9744;&#160;&#160;&#160;&#160;Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. </font></div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.314%"><tr><td style="width:1.0%"></td><td style="width:4.557%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:93.243%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1)</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Title of each class of securities to which transaction applies&#58;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2)</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Aggregate number of securities to which transaction applies&#58;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3)</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined)&#58;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4)</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Proposed maximum aggregate value of transaction&#58;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(5)</font></td><td colspan="3" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total fee paid&#58;</font></td></tr></table></div><div style="margin-bottom:2pt;margin-top:5pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#9744;&#160;&#160;&#160;&#160;Fee paid previously with preliminary materials.</font></div><div style="margin-bottom:2pt;padding-left:18pt;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">&#9744;&#160;&#160;&#160;&#160;Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.</font></div><div style="padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.314%"><tr><td style="width:1.0%"></td><td style="width:4.557%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:93.243%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1)</font></td><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amount Previously Paid&#58;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(2)</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Form, Schedule or Registration Statement No.&#58;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3)</font></td><td colspan="3" style="border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Filing Party&#58;</font></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 3.77pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(4)</font></td><td colspan="3" style="border-bottom:0.5pt solid #000000;border-top:0.5pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Date Filed&#58;</font></td></tr></table></div><div style="height:36pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><div id="ib68286664ad148eda43033eafd034a2d_67"></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Guess&#63;, Inc. Files Definitive Proxy Materials and Investor Presentation</font></div><div><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Highlights Ongoing Execution of Transformation Strategy Driving Growth and Value Creation </font></div><div style="text-align:center"><font><br></font></div><div style="text-align:center"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-style:italic;font-weight:400;line-height:120%">Urges Shareholders to Vote &#8220;FOR ALL&#8221; of Guess&#8217; Highly Qualified Director Nominees on the WHITE Proxy Card</font></div><div style="text-align:center"><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">LOS ANGELES, April 8, 2022</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> &#8211; Guess&#63;, Inc. (NYSE&#58; GES) (&#8220;Guess&#8221; or the &#8220;Company&#8221;) today announced that it has filed definitive proxy materials with the U.S. Securities and Exchange Commission (&#8220;SEC&#8221;) as well as an investor presentation in connection with its upcoming Annual Meeting of Shareholders scheduled to be held on April 22, 2022. Shareholders of record as of March 23, 2022 will be entitled to vote at the meeting. The presentation is available on the </font><font style="color:#0563c1;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">Annual Meeting Materials</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> section on the investor relations section of the Company&#8217;s website.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Guess issued the following statement&#58;</font></div><div><font><br></font></div><div style="padding-left:36pt;text-align:justify"><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Guess Board has always made, and will continue to make, decisions that are based on facts and that it believes are in the best interests of the Company and all shareholders. Guess today is the strongest and most well-positioned it has been in recent history. In order to advance this momentum, and usher in Guess&#8217; next phase of growth and success, the Board and management team are laser focused on continuing to successfully execute our transformation strategy. This strategy &#8211; which we strongly believe represents the best path toward sustainable value creation &#8211; is already bearing fruit as evidenced by our latest financial results. The Board&#8217;s interests are strongly aligned with those of our shareholders &#8211; to enhance the value of the Company&#8217;s shares &#8211; and we look forward to continuing to deliver on our commitments to Guess and all of its shareholders now, and for many years to come. </font></div><div style="padding-left:36pt"><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Highlights of the presentation include&#58;</font></div><div><font><br></font></div><div style="padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%;padding-left:14.15pt">The Guess management team is successfully executing a transformation business strategy to drive long-term growth and enhance value&#58;</font></div><div style="padding-left:72pt;text-indent:-18pt"><font style="color:#000000;font-family:'Courier New',monospace;font-size:11pt;font-weight:400;line-height:120%">&#9702;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:11.4pt">Guess today is the strongest and most well-positioned it has been in recent history.</font></div><div style="padding-left:72pt;text-indent:-18pt"><font style="color:#000000;font-family:'Courier New',monospace;font-size:11pt;font-weight:400;line-height:120%">&#9702;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:11.4pt">The management team is executing on a&#160;clear&#160;strategic plan&#160;to elevate the GUESS and Marciano brands, redefine the Company&#8217;s global e-commerce strategy, optimize its store footprint, enhance its supply chain and drive efficiencies across the business.</font></div><div style="padding-left:72pt;text-indent:-18pt"><font style="color:#000000;font-family:'Courier New',monospace;font-size:11pt;font-weight:400;line-height:120%">&#9702;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:11.4pt">Guess recently reported fourth quarter and fiscal year 2022 financial results that were the best of the last decade, with operating margin for fiscal 2022 at 11.8%, or more than double since its pre-pandemic fiscal year 2020, delivering a return on invested capital (ROIC) of 26% in fiscal year 2022</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:7.15pt;font-weight:400;line-height:120%;position:relative;top:-3.85pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#59; the Company&#8217;s transformation is sustaining a strong balance sheet and solid cash flow generation.</font></div><div style="padding-left:72pt;text-indent:-18pt"><font style="color:#000000;font-family:'Courier New',monospace;font-size:11pt;font-weight:400;line-height:120%">&#9702;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:11.4pt">The Company has demonstrated its commitment to returning capital directly to shareholders, doubling the dividend, expanding the share repurchase program to $300 million, and initiating an ASR of $175 million.</font></div><div><font><br></font></div><div style="border-bottom:1pt solid black;margin-bottom:5pt;margin-top:10pt;width:150pt"></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:6.5pt;font-weight:400;line-height:100%;position:relative;top:-3.5pt;vertical-align:baseline">1</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> Please refer to the appendix to the Investor Presentation for a full GAAP to non-GAAP reconciliation of this measure, available on the </font><font style="color:#0563c1;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%;text-decoration:underline">Annual Meeting Materials</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> section on the investor relations section of the Company&#8217;s website. </font></div><div style="height:90pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%;padding-left:14.15pt">The Guess Board is highly-qualified, highly-engaged and committed to serving the best interests of ALL shareholders&#58; </font></div><div style="padding-left:72pt;text-indent:-18pt"><font style="color:#000000;font-family:'Courier New',monospace;font-size:11pt;font-weight:400;line-height:120%">&#9702;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:11.4pt">As of the 2022 Annual Meeting, the Guess Board will comprise seven highly engaged and qualified directors, four of whom are independent, and all of whom bring skillsets critical to the successful development and implementation of the Company&#8217;s transformation strategy. The Board collectively brings significant industry expertise, experience across the global consumer market and a track record of leading successful financial operations. </font></div><div style="padding-left:72pt;text-indent:-18pt"><font style="color:#000000;font-family:'Courier New',monospace;font-size:11pt;font-weight:400;line-height:120%">&#9702;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:11.4pt">The Board is actively engaged in overseeing and directing the Company&#8217;s transformation strategy, working closely with Carlos Alberini and Paul Marciano in executing initiatives that are delivering dramatically improved financial results.  </font></div><div style="padding-left:72pt;text-indent:-18pt"><font style="color:#000000;font-family:'Courier New',monospace;font-size:11pt;font-weight:400;line-height:120%">&#9702;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:11.4pt">The Board has a long track record of proactively seeking input from shareholders, resulting in a number of positive sustainability, diversity and inclusion, governance and compensation policies.</font></div><div style="padding-left:72pt;text-indent:-18pt"><font style="color:#000000;font-family:'Courier New',monospace;font-size:11pt;font-weight:400;line-height:120%">&#9702;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:11.4pt">The Board takes allegations of sexual impropriety or unethical conduct extremely seriously, has acted accordingly to conduct a thorough investigation of allegations against Paul Marciano in 2018, and is currently conducting an independent investigation related to Legion Partners&#8217; Demand Letter.</font></div><div><font><br></font></div><div style="padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%;padding-left:14.15pt">Paul and Maurice Marciano have each made valuable contributions to sustaining and growing a successful global business for 40 years and are important to the Guess and Marciano brands and the continued success of the business&#58; </font></div><div style="padding-left:72pt;text-indent:-18pt"><font style="color:#000000;font-family:'Courier New',monospace;font-size:11pt;font-weight:400;line-height:120%">&#9702;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:11.4pt">Paul and Maurice Marciano have built an incredible culture of entrepreneurship, commitment, hard work and long tenures across functions, cultures and countries.</font></div><div style="padding-left:72pt;text-indent:-18pt"><font style="color:#000000;font-family:'Courier New',monospace;font-size:11pt;font-weight:400;line-height:120%">&#9702;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:11.4pt">Significant stock ownership by Paul and Maurice Marciano has provided strong alignment with all shareholders since Guess became a public company in 1996 and has ensured a consistent focus on long-term decision-making and value creation.  </font></div><div style="padding-left:72pt;text-indent:-18pt"><font style="color:#000000;font-family:'Courier New',monospace;font-size:11pt;font-weight:400;line-height:120%">&#9702;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:11.4pt">Paul Marciano&#8217;s key contributions include creating our iconic brand image, launching our international franchisee business and building a very profitable licensing business, developing GUESS into a truly global multichannel lifestyle brand&#59; he is continuing to contribute to the Company&#8217;s transformation through brand elevation and consistency of product worldwide, with current responsibilities that span advertising and marketing, licensing and oversight of product design.</font></div><div style="padding-left:72pt;text-indent:-18pt"><font style="color:#000000;font-family:'Courier New',monospace;font-size:11pt;font-weight:400;line-height:120%">&#9702;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:11.4pt">Maurice Marciano&#8217;s judgment as co-founder, large shareholder and integral Board member is invaluable to the Company&#59; while his Board meeting attendance was impacted in fiscal 2022 due to injuries suffered from a cycling accident, he has attended multiple recent Board meetings and is expected to attend all regular Board meetings going forward.</font></div><div><font><br></font></div><div style="padding-left:36pt;text-indent:-18pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:11pt;font-weight:400;line-height:120%">&#8226;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%;padding-left:14.15pt">Legion Partners is pursuing a campaign that could jeopardize the Company&#8217;s plan to drive profitable growth and value creation&#58; </font></div><div style="padding-left:72pt;text-indent:-18pt"><font style="color:#000000;font-family:'Courier New',monospace;font-size:11pt;font-weight:400;line-height:120%">&#9702;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:11.4pt">The Guess Board has always made, and will continue to make, decisions that are based on facts and decisions that it believes are in the best interests of the Company and ALL shareholders.</font></div><div style="padding-left:72pt;text-indent:-18pt"><font style="color:#000000;font-family:'Courier New',monospace;font-size:11pt;font-weight:400;line-height:120%">&#9702;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:11.4pt">We believe that the foundation of Legion Partners&#8217; withhold campaign is based on information from the media and from misinformed and uncorroborated sources.</font></div><div style="height:90pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div style="padding-left:72pt;text-indent:-18pt"><font style="color:#000000;font-family:'Courier New',monospace;font-size:11pt;font-weight:400;line-height:120%">&#9702;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:11.4pt">Legion Partners has failed to present any ideas with regard to the Company&#8217;s strategy or operations that will advance our core objective of driving value for Guess shareholders.</font></div><div style="padding-left:72pt;text-indent:-18pt"><font style="color:#000000;font-family:'Courier New',monospace;font-size:11pt;font-weight:400;line-height:120%">&#9702;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:11.4pt">We believe Legion Partners&#8217; one suggestion &#8212; removing two individuals who have been, and continue to be, critical to our success &#8212; could be detrimental to the Company.&#8195;</font></div><div style="padding-left:72pt;text-indent:-18pt"><font style="color:#000000;font-family:'Courier New',monospace;font-size:11pt;font-weight:400;line-height:120%">&#9702;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%;padding-left:11.4pt">The Board has attempted to engage with Legion Partners in good faith and has put forward reasonable, meaningful suggestions that were immediately and summarily rejected by Legion Partners. &#8195;</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">We recommend that stockholders vote the </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">WHITE </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">proxy card </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">&#8220;FOR ALL&#8221;</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> of Guess&#8217; four highly qualified directors standing for election &#8211; Anthony Chidoni, Cynthia Livingston, Maurice Marciano and Paul Marciano &#8211; at the Annual Meeting.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">About Guess Family</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">For more information about the respect and appreciation Guess models, photographers and employees have for the Company, please visit </font><font style="color:#0563c1;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">www.guessfam.com</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">About Guess&#63;, Inc.</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Established in 1981, GUESS began as a jeans company and has since successfully grown into a global lifestyle brand. Guess&#63;, Inc. designs, markets, distributes and licenses a lifestyle collection of contemporary apparel, denim, handbags, watches, eyewear, footwear and other related consumer products. Guess&#63; products are distributed through branded Guess&#63; stores as well as better department and specialty stores around the world. As of January 29, 2022, the Company directly operated 1,068 retail stores in the Americas, Europe and Asia. The Company&#8217;s partners and distributors operated 563 additional retail stores worldwide. As of January 29, 2022, the Company and its partners and distributors operated in approximately 100 countries worldwide. For more information about the Company, please visit </font><font style="color:#0563c1;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%;text-decoration:underline">www.guess.com</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">.</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Forward-Looking Statements </font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The business strategies and statements concerning the Company&#8217;s future outlook, business plans and strategic initiatives 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, which are frequently indicated by terms such as &#8220;expect,&#8221; &#8220;continue,&#8221; &#8220;anticipate,&#8221; &#8220;look,&#8221; &#8220;path&#8221; and similar terms, are only expectations, and involve known and unknown risks and uncertainties, which may cause actual results in future periods to differ materially from what is currently anticipated. Factors that may cause actual results in future periods to differ materially from current expectations, which are identified in the Company&#8217;s most recent Annual Report on Form 10-K for the year ended January 29, 2022, which was filed with the SEC on March 24, 2022, and other filings with the SEC, including but not limited to, the risk factors discussed therein, could cause actual results to differ materially from current expectations. The current global economic climate, length and severity of the COVID-19 pandemic, the current Russia-Ukraine war and recent sanctions and exports controls targeting Russia, and uncertainty surrounding potential changes in U.S. policies and regulations may amplify many of these risks. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.</font></div><div><font><br></font></div><div style="height:90pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div><hr style="page-break-after:always"><div style="min-height:72pt;width:100%"><div><font><br></font></div></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Disclaimer</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The views and opinions expressed in this press release are those of management of Guess. This press release does not reflect the views and opinions of the Demand Review Committee of the Board of Directors of Guess (or its members) (the &#8220;DRC&#8221;), which is conducting an independent review of the demands and allegations (the &#8220;Demands&#8221;) by Legion Partners Asset Management, LLC addressed in this press release. The DRC members take no position with respect to the Demands at this time, did not review or approve the contents of this press release and are not participating in the solicitation efforts of the Company in connection with the Company&#8217;s 2022 Annual Meeting of shareholders (the &#8220;2022 Annual Meeting&#8221;).</font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Important Additional Information</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">The Company and certain of its directors and executive officers are participants in the solicitation of proxies from the Company&#8217;s shareholders in connection with the 2022 Annual Meeting. The Company filed its definitive proxy statement and the </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">WHITE</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> proxy card with the SEC on April 6, 2022 in connection with the solicitation of proxies from the Company&#8217;s shareholders. SHAREHOLDERS OF THE COMPANY ARE STRONGLY ENCOURAGED TO READ SUCH PROXY STATEMENT, ACCOMPANYING </font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">WHITE</font><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%"> PROXY CARD AND ALL OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY AS THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION. The Company&#8217;s definitive proxy statement for the 2022 Annual Meeting contains information regarding the direct and indirect interests, by security holdings or otherwise, of the Company&#8217;s directors and executive officers in the Company&#8217;s securities. Information regarding subsequent changes to their holdings of the Company&#8217;s securities will be found in the SEC filings on Forms 3, 4 and 5, which are available on the Company&#8217;s website at http&#58;&#47;&#47;investors.guess.com or through the SEC&#8217;s website at www.sec.gov. Information can also be found in the Company&#8217;s other SEC filings, including its Annual Report on Form 10-K for the year ended January 29, 2022, filed on March 24, 2022. Shareholders will be able to obtain the definitive proxy statement, any amendments or supplements to the proxy statement and other documents filed by the Company with the SEC at no charge at the SEC&#8217;s website at www.sec.gov. Copies will also be available at no charge on the Company&#8217;s website at http&#58;&#47;&#47;investors.guess.com.</font></div><div><font><br></font></div><div><font><br></font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:700;line-height:120%">Contacts</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Guess&#63;, Inc. </font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">Fabrice Benarouche</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">VP, Finance and Investor Relations</font></div><div><font style="color:#000000;font-family:'Calibri',sans-serif;font-size:11pt;font-weight:400;line-height:120%">(213) 765-5578 </font></div><div><font><br></font></div><div style="height:90pt;position:relative;width:100%"><div style="bottom:0;position:absolute;width:100%"><div><font><br></font></div></div></div></body></html>
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