Gottschalks Inc. announced that the Company's Chief Financial Officer, Michael Geele, has resigned to pursue other opportunities.

Gottschalks' management and board of directors thank Mr. Geele for his considerable contributions to the Company during his tenure, and wish him well in his future endeavors. The Company has engaged Heidrick & Struggles to search for a replacement and anticipates announcing a replacement later this month. In the interim, Kevin Bradshaw, the Company's Vice President of Finance, will take over all related financial responsibilities.