Gottschalks November 2003 same store sales were even with November 2002. Total sales for November decreased 2.3% to $67.1 million from $68.7 million in the prior year. For the year-to-date, same store sales decreased 1.7%, while total sales decreased 4.1% to $505.6 million, from $527.2 million for the same period last year. The decrease in total sales for the month and year-to-date periods are partially attributable to the Company operating eight fewer stores than in the comparable periods of 2002.

Jim Famalette, president and chief executive officer of Gottschalks, said,
“As we anticipated, comparable store sales for the month were even with
November of last year. The best performing merchandise categories during
November were cosmetics, coats, dresses, juniors and men's apparel. We expect
December comparable store sales will be slightly ahead of last year due to one
additional shopping day before Christmas this year compared to last year's
calendar. Our merchandise assortments are well positioned and we have a solid
marketing plan in place for the remainder of the holiday season.”

    Sales results are summarized as follows:
Same Store
Total % Sales %
Nov. 29, Nov. 30, Increase/ Increase/
2003 2002 (Decrease) (Decrease)
(in 000's)

Sales, 4 Weeks Ended $67,074 $68,681 (2.3%) (0.0%)

Sales, 44 Weeks Ended $505,594 $527,217 (4.1%) (1.7%)