Exhibit 99.1


  The Gymboree Corporation Reports October and Third Quarter Sales Results;
                          Updates Earnings Guidance

    BURLINGAME, Calif., Nov. 4 /PRNewswire-FirstCall/ -- The Gymboree
Corporation (Nasdaq: GYMB) reported net sales from retail operations for the
four-week period ended October 30, 2004, of $54.6 million, an increase of 12%
compared to net sales from retail operations of $48.7 million for the same
four-week period last year. Comparable store sales for the four-week period
increased 3% compared to a 12% decrease in comparable store sales for the same
period last year.
    For the third fiscal quarter ended October 30, 2004, net sales from retail
operations totaled $162.3 million, a 10% increase over the $148.1 million in
net sales from retail operations reported for the quarter ended
November 1, 2003. Comparable store sales for the quarter increased 2% over the
same period last year.
    Net sales from retail operations for the 39 weeks ended October 30, 2004
were $433.4 million, an increase of 10% compared to net sales from retail
operations of $394.6 million for the same period last year. Comparable store
sales for the 39-week period increased 4% over the same period last year.
    Results from United Kingdom and Ireland retail operations are not included
in October and year-to-date comparable store sales calculations based on the
Company's decision to close these operations. The wind down of the United
Kingdom and Ireland retail operations was substantially completed by the end
of the third fiscal quarter of 2004.
    "We had better sales than expected for the quarter but we continued to
experience a very promotional retail environment, which increased pressure on
our gross margins," said Lisa Harper, The Gymboree Corporation's chairman and
chief executive officer. "We expect these conditions to continue and as a
result have lowered our earnings estimates for the remainder of the year."
    The Company now expects its earnings from continuing operations for the
third quarter to be in the range of $0.16 to $0.18 per diluted share. In
addition, the Company now expects earnings from continuing operations for the
fourth quarter and for the full fiscal year 2004 to be in the range of $0.25
to $0.30 and $0.58 to $0.65 per diluted share, respectively.

    Management Presentations
    For more information about October and third 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,
November 4 at 7:55 a.m. Eastern Time through Thursday, November 11 at
11:59 p.m. Pacific Time.

    About The Gymboree Corporation
    The Gymboree Corporation's specialty retail brands offer unique,
high-quality products delivered with personalized customer service. As of
October 30, 2004, the Company operated a total of 660 stores:  597 Gymboree(R)
retail stores (552 in the United States, 28 in Canada, and 17 in Europe),
51 Janie and Jack(R) retail shops and 12 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 506 franchised and company-operated centers in the United States and
26 other countries.

    Forward-Looking Statements
    The foregoing sales figures for October and the third fiscal quarter 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, the wind down of our
UK and Ireland operations, 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, including our annual report
on Form 10-K for the year ended January 31, 2004. These forward-looking
statements reflect The Gymboree Corporation's expectations as of
November 4, 2004.  The Gymboree Corporation undertakes no obligation to update
the information provided herein.
    NOTE:  Gymboree and Janie and Jack are registered trademarks of The
Gymboree Corporation. Janeville is a trademark of The Gymboree Corporation.

SOURCE  The Gymboree Corporation
    -0-                             11/04/2004
    /CONTACT:  investors, Charles Bracher, +1-415-278-7137, or
investor_relations@gymboree.com, or press, Jennifer Bonzagni Marshall,
+1-650-373-7637, or media_relations@gymboree.com, both of Gymboree
Corporation/
    /Web site:  http://www.gymboree.com/
    (GYMB)

CO:  Gymboree Corporation
ST:  California
IN:  REA
SU:  SLS ERP