Gottschalks Posts 2.3% February Comp Increase

Gottschalks same store sales for the month of February
2004 increased 2.3% from the prior year. Total sales for the month decreased 0.6% to $43.1 million from $43.3 million in February 2003. The Company operated seven fewer stores compared to the same period in fiscal 2003.

Jim Famalette, president and chief executive officer of Gottschalks said,
“Our sales for the month were in line with our expectations. February was the
third consecutive month we generated an increase in comparable store sales,
and we are pleased with this positive trend. The best performing categories
during the month were accessories, dresses, juniors and men's apparel.”

    Sales results are summarized as follows:

                                                                 Same Store

                                                     Total %       Sales %

                         February 28,   March 1,    Increase/     Increase/

                            2004          2003      Decrease      Decrease

                                (in 000's)

    Sales, 4 Weeks Ended   $43,070      $43,335       (0.6%)        2.3%