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  <p align="center" style="border:none;margin:0in 0in .0001pt;padding:0in;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>
  
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  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">UNITED STATES</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">WASHINGTON, D.C. 20549</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">FORM&nbsp;8-K</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">CURRENT
  REPORT</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Pursuant
  to Section&nbsp;13 or 15(d)&nbsp;of the</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Securities
  Exchange Act of 1934</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Date of
  Report (Date of earliest event reported): May&nbsp;1, 2008</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">GUESS?,
  INC.</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;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="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;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></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or other
  jurisdiction of incorporation)</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></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:0in 0in 0in 0in;width:48.94%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1-11893</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.14%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="48%" valign="top" style="padding:0in 0in 0in 0in;width:48.92%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">95-3679695</font></b></p>
    </td>
   </tr>
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    <td width="48%" valign="top" style="padding:0in 0in 0in 0in;width:48.94%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><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:0in 0in 0in 0in;width:2.14%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="48%" valign="top" style="padding:0in 0in 0in 0in;width:48.92%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(IRS Employer
    Identification No.)</font></p>
    </td>
   </tr>
  </table>
  
  </div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;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></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of principal
  executive offices) (Zip Code)</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;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="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;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></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Former name or former
  address, if changed since last report)</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
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    <td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check
    the appropriate box below if the Form&nbsp;8-K filing is intended to simultaneously
    satisfy the filing obligation of the registrant under any of the following
    provisions:</font></p>
    </td>
   </tr>
   <tr>
    <td width="100%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:100.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.34%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
    </td>
    <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="96%" valign="top" style="padding:0in 0in 0in 0in;width:96.66%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Written
    communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR
    230.425)</font></p>
    </td>
   </tr>
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    <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.34%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="96%" valign="top" style="padding:0in 0in 0in 0in;width:96.66%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.34%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
    </td>
    <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="96%" valign="top" style="padding:0in 0in 0in 0in;width:96.66%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Soliciting
    material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR
    240.14a-12)</font></p>
    </td>
   </tr>
   <tr>
    <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.34%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="96%" valign="top" style="padding:0in 0in 0in 0in;width:96.66%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.34%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
    </td>
    <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="96%" valign="top" style="padding:0in 0in 0in 0in;width:96.66%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pre-commencement
    communications pursuant to Rule&nbsp;14d-2(b)&nbsp;under the Exchange Act (17
    CFR 240.14d-2(b))</font></p>
    </td>
   </tr>
   <tr>
    <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.34%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="96%" valign="top" style="padding:0in 0in 0in 0in;width:96.66%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="2%" valign="top" style="padding:0in 0in 0in 0in;width:2.34%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
    </td>
    <td width="1%" valign="bottom" style="padding:0in 0in 0in 0in;width:1.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="96%" valign="top" style="padding:0in 0in 0in 0in;width:96.66%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pre-commencement
    communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under the Exchange Act (17
    CFR 240.13e-4(c))</font></p>
    </td>
   </tr>
  </table>
  
  <div style="border:none;border-bottom:double windowtext 6.0pt;padding:0in 0in 0in 0in;">
  
  <p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  </div>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='',FILE='C:\JMS\zaria\08-13360-1\task2916932\13360-1-ba.htm',USER='105281',CD='May  6 12:02 2008' -->
  
  
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  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><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:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Guess?,&nbsp;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.&nbsp; Any Equity Incentives awarded under
  the executive compensation program will be granted pursuant to the terms of the
  existing Guess?,&nbsp;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&nbsp;A to the Company&#146;s 2004 Definitive Proxy Statement, as
  amended (the &#147;2004 Plan&#148;).&nbsp; Any cash bonuses awarded under the executive
  compensation program will be granted pursuant to the terms of the 2004 Plan or
  the existing Guess?,&nbsp;Inc. Annual Incentive Bonus Plan (As Amended and
  Restated January&nbsp;18, 2007), previously approved by the shareholders of the
  Company on May&nbsp;10, 2005 and filed as Exhibit&nbsp;10.6 to the Company&#146;s
  Annual Report on Form&nbsp;10-K for the year ended December&nbsp;31, 2006.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On
  May&nbsp;1, 2008, the Compensation Committee of the Board of Directors of the
  Company (the &#147;Committee&#148;) established the performance goals under the annual
  executive compensation program for the current fiscal year ending January&nbsp;31,
  2009 for its executive officers and the incentive opportunities payable under
  the program at &#147;threshold,&#148; &#147;target&#148; and &#147;stretch&#148; levels of performance
  against those goals.&nbsp; 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.&nbsp; The performance goals with respect to the individuals designated
  as Named Executive Officers in the Company&#146;s 2007 Proxy Statement are based on (i)&nbsp;for
  Paul Marciano, Chief Executive Officer and Vice Chairman, total Company
  earnings per share and licensing operating earnings, (ii)&nbsp;for Maurice
  Marciano, Chairman of the Board, Carlos Alberini, President and Chief Operating
  Officer, Dennis Secor, Senior Vice President and Chief Financial Officer, and Michael
  Relich, Senior Vice President and Chief Information Officer, total Company
  earnings per share, and (iii)&nbsp;for Nancy Shachtman, President of Wholesale,
  earnings per share for North American operations and wholesale segment
  operating profit for the United States, Canada and Mexico.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Depending
  on the performance against the pre-established performance goals for fiscal
  2009, the Named Executive Officers will be eligible to receive cash incentive
  opportunities of between 20% and 100% of base salary at threshold performance,
  between 40% and 200% of base salary at target performance and between 60% and 300%
  of base salary at stretch performance plus, for Paul Marciano, an additional
  cash incentive opportunity based on licensing operating earnings.&#160; In addition, depending on the performance
  against the pre-established performance goals for fiscal 2009, the Named
  Executive Officers will be eligible to receive equity incentive opportunities
  made up of a pre-determined combination of stock options and restricted stock
  at a value of between 20% and 55% of base salary at threshold performance,
  between 60% and 220% of base salary at target performance and between 80% and 350%
  of base salary at stretch performance.&#160;
  For these purposes, stock options are valued using the Black Scholes
  Model and restricted stock is valued at the same price as our unrestricted
  common stock, in each case on a predetermined measurement date with respect to
  the grant date.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Also
  on May&nbsp;1, 2008, the Committee approved a special performance-based award
  of 10,000 shares of restricted stock to Nancy Shachtman, President of
  Wholesale.&#160; The shares are eligible to
  become vested at a rate of 20% over each of five fiscal years beginning with
  the current fiscal 2009, based on the achievement of targeted wholesale segment
  operating profit for the United States, Canada and Mexico during each
  performance period or, in the event that the targeted earnings amount is not
  achieved for any such fiscal year, if the cumulative targeted wholesale
  earnings amount exceeds the cumulative targeted wholesale earnings amount for
  any subsequent fiscal year during the performance period.</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>
  
  <div style="margin:0in 0in .0001pt;text-autospace:none;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='2',FILE='C:\JMS\zaria\08-13360-1\task2916932\13360-1-ba.htm',USER='105281',CD='May  6 12:02 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SIGNATURES</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;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, Guess?,&nbsp;Inc. has duly caused this
  report to be signed on its behalf by the undersigned hereunto duly authorized.</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
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    <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.78%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dated: May&nbsp;6, 2008</font></p>
    </td>
    <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.32%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="49%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:49.9%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">GUESS?, INC.</font></p>
    </td>
   </tr>
   <tr>
    <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.78%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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    <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.32%;">
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    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
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    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
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    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By: </font></p>
    </td>
    <td width="45%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:45.56%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Carlos Alberini</font></p>
    </td>
   </tr>
   <tr>
    <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.78%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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    <td width="1%" valign="top" style="padding:0in .7pt 0in .7pt;width:1.32%;">
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    <td width="49%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:49.9%;">
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    </td>
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   <tr>
    <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.78%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
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    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Carlos Alberini</font></p>
    </td>
   </tr>
   <tr>
    <td width="48%" valign="top" style="padding:0in .7pt 0in .7pt;width:48.78%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
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    <td width="49%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:49.9%;">
    <p style="margin:0in 0in .0001pt;text-autospace:none;"><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 align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>
  
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "a08-13360_18k.htm", "description": "8-K", "secsgml_size_bytes": 26957}]
metadata_filer: {"company-data": {"conformed-name": "GUESS INC", "cik": "0000912463", "assigned-sic": "2340", "irs-number": "953679695", "state-of-incorporation": "DE", "fiscal-year-end": "0203"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-11893", "film-number": "08806865"}, "business-address": {"street1": "ATTN:  ANGELINA ORONA", "street2": "1444 SOUTH ALAMEDA STREET", "city": "LOS ANGELES", "state": "CA", "zip": "90021", "phone": "(213) 765-3100"}, "mail-address": {"street1": "ATTN:  ANGELINA ORONA", "street2": "1444 SOUTH ALAMEDA STREET", "city": "LOS ANGELES", "state": "CA", "zip": "90021"}, "former-company": {"former-conformed-name": "GUESS INC ET AL/CA/", "date-changed": "19940902"}}
text: UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  FORM 8-K
  CURRENT
  REPORT
  Pursuant
  to Section 13 or 15(d) of the
  Securities
  Exchange Act of 1934
  Date of
  Report (Date of earliest event reported): May 1, 2008
  GUESS?,
  INC.
  (Exact name of registrant
  as specified in its charter)
  Delaware
  (State or other
  jurisdiction of incorporation)
  1-11893
  95-3679695
  (Commission File
    Number)
  (IRS Employer
    Identification No.)
  1444 S.
  Alameda Street Los Angeles, California 90021
  (Address of principal
  executive offices) (Zip Code)
  Registrant's telephone
  number, including area code:
  (213) 765-3100
  Not
  applicable
  (Former name or former
  address, if changed since last report)
  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:
  o
  Written
    communications pursuant to Rule 425 under the Securities Act (17 CFR
    230.425)
  o
  Soliciting
    material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
    240.14a-12)
  o
  Pre-commencement
    communications pursuant to Rule 14d-2(b) under the Exchange Act (17
    CFR 240.14d-2(b))
  o
  Pre-commencement
    communications pursuant to Rule 13e-4(c) under the Exchange Act (17
    CFR 240.13e-4(c))
  Item 5.02
  Departure of Directors or Certain Officers; Election of Directors; Appointment
  of Certain Officers; Compensatory Arrangements of Certain Officers.
  Guess?, Inc.
  (the "Company") 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 ("Equity Incentives"), upon achievement
  of pre-established performance goals.  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 10, 2004 and filed April 14,
  2004 as Exhibit A to the Company's 2004 Definitive Proxy Statement, as
  amended (the "2004 Plan").  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 (As Amended and
  Restated January 18, 2007), previously approved by the shareholders of the
  Company on May 10, 2005 and filed as Exhibit 10.6 to the Company's
  Annual Report on Form 10-K for the year ended December 31, 2006.
  On
  May 1, 2008, the Compensation Committee of the Board of Directors of the
  Company (the "Committee") established the performance goals under the annual
  executive compensation program for the current fiscal year ending January 31,
  2009 for its executive officers and the incentive opportunities payable under
  the program at "threshold," "target" and "stretch" levels of performance
  against those goals.  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.  The performance goals with respect to the individuals designated
  as Named Executive Officers in the Company's 2007 Proxy Statement are based on (i) for
  Paul Marciano, Chief Executive Officer and Vice Chairman, 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, and Michael
  Relich, Senior Vice President and Chief Information Officer, total Company
  earnings per share, and (iii) for Nancy Shachtman, President of Wholesale,
  earnings per share for North American operations and wholesale segment
  operating profit for the United States, Canada and Mexico.
  Depending
  on the performance against the pre-established performance goals for fiscal
  2009, the Named Executive Officers will be eligible to receive cash incentive
  opportunities of between 20% and 100% of base salary at threshold performance,
  between 40% and 200% of base salary at target performance and between 60% and 300%
  of base salary at stretch performance plus, for Paul Marciano, an additional
  cash incentive opportunity based on licensing operating earnings.  In addition, depending on the performance
  against the pre-established performance goals for fiscal 2009, the Named
  Executive Officers will be eligible to receive equity incentive opportunities
  made up of a pre-determined combination of stock options and restricted stock
  at a value of between 20% and 55% of base salary at threshold performance,
  between 60% and 220% of base salary at target performance and between 80% and 350%
  of base salary at stretch performance. 
  For these purposes, stock options are valued using the Black Scholes
  Model and restricted stock is valued at the same price as our unrestricted
  common stock, in each case on a predetermined measurement date with respect to
  the grant date.
  Also
  on May 1, 2008, the Committee approved a special performance-based award
  of 10,000 shares of restricted stock to Nancy Shachtman, President of
  Wholesale.  The shares are eligible to
  become vested at a rate of 20% over each of five fiscal years beginning with
  the current fiscal 2009, based on the achievement of targeted wholesale segment
  operating profit for the United States, Canada and Mexico during each
  performance period or, in the event that the targeted earnings amount is not
  achieved for any such fiscal year, if the cumulative targeted wholesale
  earnings amount exceeds the cumulative targeted wholesale earnings amount for
  any subsequent fiscal year during the performance period.
  2
  SIGNATURES
  Pursuant to the requirements
  of the Securities Exchange Act of 1934, Guess?, Inc. has duly caused this
  report to be signed on its behalf by the undersigned hereunto duly authorized.
  Dated: May 6, 2008
  GUESS?, INC.
  By:
  /s/ Carlos Alberini
  Carlos Alberini
  President
    and Chief Operating Officer
  3