8-K

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                                 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)     April 8, 2004
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                            The Gymboree Corporation
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             (Exact name of registrant as specified in its charter)

Delaware                              000-21250                 942615258
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(State or other jurisdiction      (Commission File            (IRS Employer
of incorporation)                      Number)              Identification No.)

700 Airport Boulevard, Suite 200, Burlingame, CA               94010-1912
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(Address of principal executive offices)                       (Zip Code)

Registrant's telephone number, including area code (650) 579-0600
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          (Former name or former address if changed since last report)

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Item 5. Other Events

     On April 8, 2004, The Gymboree Corporation issued a press release
announcing its March sales and a change in accounting methods. A copy of the
press release is attached hereto as Exhibit 99.1.

Item 7.       Exhibits
        (c)   Exhibits

        99.1  Press release regarding The Gymboree Corporation's monthly
              sales and change in accounting methods.*




SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                                       (Registrant)

                           Date:  04/07/04   By:      /s/ Myles B. McCormick
                                                      -----------------------
                                                      Myles B. McCormick
                                                      Chief Financial Officer


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                                 EXHIBIT INDEX


Exhibit No.       Subject Matter

99.1              Press release dated April 8, 2004.*

                                       3

EX-99.1

                                                                    EXHIBIT 99.1

                  The Gymboree Corporation Reports March Sales

     BURLINGAME, Calif., April 8 /PRNewswire-FirstCall/ -- The Gymboree
Corporation (Nasdaq: GYMB) reported net sales from retail operations for the
five-week period ended April 3, 2004, of $63.7 million, an increase of 12%
compared to net sales from retail operations of $56.8 million for the same
five-week period last year. Comparable store sales for the five-week period
increased 8% compared to a 2% decrease in comparable store sales for the same
period last year. Net sales from retail operations for the 9 weeks ended April
3, 2004 were $106.1 million, an increase of 13% compared to net sales from
retail operations of $94.3 million for the same period last year. Comparable
store sales for the 9-week period increased 8% compared to a 2% decrease in
comparable sales reported for the same period last year. "Our continued focus on
differentiating our product through design and quality had very positive results
this month at both Gymboree and Janie and Jack," said Lisa Harper, The Gymboree
Corporation's chairman and chief executive officer. "Our customers also
responded well to our Gymboree boy product, which was delivered with a better
balance of basics and fashion." The Gymboree Corporation projects that
comparable store sales in April will be in the positive low single digits and
will be in the positive low to mid single digits for the first quarter in total.
The Gymboree Corporation also reaffirmed earnings guidance for the first,
second, third and fourth quarters of 2004 and for fiscal year 2004. The Company
expects earnings to be in the range of $0.25 to $0.27, $(0.10) to $(0.08), $0.29
to $0.31, and $0.46 to $0.48, respectively. Earnings per diluted share for the
fiscal year 2004 are expected in the range of $0.90 to $0.98. These estimates
exclude the effect of the change in accounting method described below.

     Notice of Change in Accounting Method

     Effective February 1, 2004, The Gymboree Corporation elected to change its
method of inventory valuation from the retail method to the cost method.
Management believes the cost method is a preferable method for matching the cost
of merchandise with the revenues generated. The cumulative effect of this
accounting change on the results for the first quarter of 2004 will be a
one-time benefit of approximately $1.2 million net of income taxes, or
approximately $0.04 per diluted share for the first quarter 2004.

     Management Presentations

     For more information about March sales, please listen to The Gymboree
Corporation's monthly sales recording by calling its Investor Relations Hotline
at 650-696-2933. The recording will be available Thursday, April 8 at 7:55 a.m.
EDT through Thursday, April 15 at 11:59 p.m. PDT.

     About The Gymboree Corporation

     The Gymboree Corporation's specialty retail brands offer unique,
high-quality products delivered with personalized customer service. As of April
3, 2004, the Company operated a total of 626 stores: 590 Gymboree(R) retail
stores (539 in the United States, 28 in Canada, and 23 in Europe), 35 Janie and
Jack(R) retail shops and 1 Janeville(TM) store in the United States. The Company
also operates online stores at, and offers directed parent-child developmental
play programs at 532 franchised and company-operated centers in the United
States and 25 other countries.

     Forward-Looking Statements

     The foregoing sales figures for March 2004 are un-audited and subject to
quarter-end and year-end adjustment, and could differ materially from those
indicated. The foregoing paragraphs contain forward-looking statements relating
to The Gymboree Corporation's anticipated sales growth and future financial
performance. These are forward-looking statements for purposes of the safe
harbor provisions under the Private Securities Litigation Reform Act of 1995.
Actual results could differ materially as a result of a number of factors,
including customer reactions to new merchandise, service levels and new
concepts, success in meeting our delivery targets, the level of our promotional
activity, our gross margin achievement, our ability to appropriately manage
inventory, general economic conditions, and competitive market conditions. Other
factors that may cause actual results to differ materially include those set
forth in the reports that we file from time to time with the Securities and
Exchange Commission.

SOURCE  The Gymboree Corporation

    -0-                             04/08/2004

     /CONTACT: Investors, Charles Bracher, +1-650-373-7137, or
investor_relations@gymboree.com, or media, Jennifer Bonzagni Marshall,
+1-650-373-7637, or media_relations@gymboree.com, both of The Gymboree
Corporation/ /Web site: http://www.janieandjack.com / /Web site:
http://www.gymboree.com / (GYMB)

CO:  Gymboree Corporation; Janie and Jack
ST:  California
IN:  REA FAS
SU:  SLS