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)    May 6, 2004

                            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 7.     Financial Statements and Exhibits

    (c)     Exhibits

   99.1     Press release of The Gymboree Corporation issued May 6, 2004.

Item 12.    Results of Operations and Financial Condition

      On May 6, 2004, The Gymboree Corporation issued a press release announcing
its April sales results and net sales results for the first quarter of 2004. A
copy of the press release is attached hereto as Exhibit 99.1.

      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.

                                                       THE GYMBOREE CORPORATION

                   Date: 05/06/04                 By:  /s/ Myles B. McCormick
                                                       -------------------------
                                                       Myles B. McCormick
                                                       Chief Financial Officer



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                                  EXHIBIT INDEX

Exhibit No.        Description

    99.1           Press release of The Gymboree Corporation issued May 6, 2004


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EX-99.1

                                                                    Exhibit 99.1


        The Gymboree Corporation Reports April and First Quarter Sales

    BURLINGAME, Calif., May 6 /PRNewswire-FirstCall/ -- The Gymboree
Corporation (Nasdaq: GYMB) reported net sales from retail operations for the
four-week period ended May 1, 2004, of $45.3 million, an increase of 8%
compared to net sales from retail operations of $41.8 million for the same
four-week period last year. Comparable store sales for the four-week period
increased 1% compared to an 11% increase in comparable store sales for the
same period last year.
    Net sales from retail operations for the first fiscal quarter of 2004 were
$151.4 million, an increase of 11% compared to net sales of $136.1 million in
the first quarter last year. Comparable store sales for the 13-week period
increased 6% compared to a 2% increase in comparable store sales for the same
period last year.
    "We are proud of our strong results for the quarter, particularly with
respect to our boy business," said Lisa Harper, The Gymboree Corporation's
chairman and chief executive officer. "This business continues to improve as
customers are responding enthusiastically to our fashion and novelty product."
    The Gymboree Corporation projects that comparable store sales in May will
be in the positive low single digits compared to the same period last year.
    The Company also reaffirmed its earnings guidance for the first quarter
and for the balance of the fiscal year:  the Company expects earnings per
share 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 April and first quarter 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,
May 6 at 7:55 a.m. EST through Thursday, May 13 at 11:59 p.m. PDT.
    The live broadcast of the discussion of first quarter 2004 earnings
results will be available to interested parties at 1:30 p.m. PST (4:30 p.m.
EST) on Tuesday, May 18. To listen to the live broadcast over the Internet,
please log on to www.gymboree.com, click on "Our Company" at the bottom of the
page, go to "Investor and Media Relations" and then "Conference Calls,
Webcasts & Presentations." A replay of the call will be available shortly
after the broadcast through midnight EST, May 25, 2004, at 703-925-2533, pass
code 386507, as well as archived on our Web site at the same location as the
live Web cast.

    About The Gymboree Corporation
    The Gymboree Corporation's specialty retail brands offer unique,
high-quality products delivered with personalized customer service. As of
May 1, 2004, the Company operated a total of 633 stores:  590 Gymboree(R)
retail stores (540 in the United States, 28 in Canada, and 22 in Europe),
40 Janie and Jack(R) retail shops and 3 Janeville(TM) stores in the United
States. The Company also operates online stores at gymboree.com and
janieandjack.com, and offers directed parent-child developmental play programs
at 529 franchised and company-operated centers in the United States and
24 other countries.

    Forward-Looking Statements
    The foregoing sales figures for April and the first fiscal quarter 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  Gymboree Corporation
    -0-                             05/06/2004
    /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 Gymboree
Corporation/
    /Web site:  http://janieandjack.com /
    /Web site:  http://www.gymboree.com /
    (GYMB)

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