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        ITEM 2.Management's Discussion and Analysis of Financial Condition and Results
        of Operations.
        Unless the context indicates otherwise, when we refer to "we," "us," "our" or
        the "Company" in this Form 10�Q, we are referring to Guess?, Inc. ("GUESS?") and
        its subsidiaries on a consolidated basis.
        Forward-Looking Statements
        This Quarterly Report on Form 10-Q, including documents incorporated by
        reference herein, contains certain forward-looking statements within the meaning
        of the Private Securities Litigation Reform Act of 1995. Forward-looking
        statements may also be contained in our other reports filed under the Securities
        Exchange Act of 1934, as amended, in our press releases and in other documents.
        Except for historical information contained herein, certain matters discussed in
        this Quarterly Report, including statements concerning the potential actions and
        impacts related to the COVID-19 pandemic; statements concerning our future
        outlook; statements concerning our expectations, goals, future prospects, global
        cost reduction opportunities, profitability efforts, capital allocation plans,
        cash needs and current business strategies and strategic initiatives; and
        statements expressing optimism or pessimism about future operating results and
        growth opportunities 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 "expect," "could," "will," "should," "goal," "strategy," "believe,"
        "estimate," "continue," "outlook," "plan," "create," "see," 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 which may cause actual results in future
        periods to differ materially from current expectations include, among others:
        our ability to maintain our brand image and reputation; domestic and
        international economic or political conditions, including economic and other
        events that could negatively impact consumer confidence and discretionary
        consumer spending; the continuation or worsening of impacts related to the
        COVID-19 pandemic, including business, financial, human capital, litigation and
        other impacts to us and our partners; our ability to successfully negotiate rent
        relief or other lease-related terms with our landlords; our ability to maintain
        adequate levels of liquidity; changes to estimates related to impairments,
        inventory and other reserves, including the impact of the CARES Act, which were
        made using the best information available at the time; changes in the
        competitive marketplace and in our commercial relationships; our ability to
        anticipate and adapt to changing consumer preferences and trends; our ability to
        manage our inventory commensurate with customer demand; risks related to the
        timing and costs of delivering merchandise to our stores and our wholesale
        customers; unexpected or unseasonable weather conditions; our ability to
        effectively operate our various retail concepts, including securing, renewing,
        modifying or terminating leases for store locations; our ability to successfully
        and/or timely implement our growth strategies and other strategic initiatives;
        our ability to successfully implement or update information technology systems,
        including enhancing our global omni-channel capabilities; our ability to expand
        internationally and operate in regions where we have less experience, including
        through joint ventures; risks related to our convertible senior notes issued in
        April 2019, including our ability to settle the liability in cash; our ability
        to successfully or timely implement plans for cost reductions; our ability to
        effectively and efficiently manage the volume and costs associated with our
        European distribution centers without incurring shipment delays; our ability to
        attract and retain key personnel; obligations or changes in estimates arising
        from new or existing litigation, income tax and other regulatory proceedings;
        risks related to the income tax treatment of our third quarter fiscal 2022
        intra-entity transfer of intellectual property rights from certain U.S. entities
        to a wholly-owned Swiss subsidiary; risks related to the complexity of the 2017
        Tax Cuts and Jobs Act (the "Tax Reform"), future clarifications and legislative
        amendments thereto, as well as our ability to accurately interpret and predict
        its impact on our cash flows and financial condition; the risk of economic
        uncertainty associated with the United Kingdom's departure from the European
        Union ("Brexit") or any other similar referendums that may be held; the
        occurrence of unforeseen epidemics, such as the COVID-19 pandemic; other
        catastrophic events; changes in U.S. or foreign income tax or tariff policy,
        including changes to tariffs on imports into the U.S.; accounting adjustments to
        our unaudited financial statements identified

Dec 03, 2021


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