-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MeWJWezZHJh8ck4P/yKz4RLZ2Kn62FO9y6i5H8+vsQ9pAefyKtquq6RLIfx4S53T 63ANhk5tMUxSAmYfitOiGg== 0001104659-10-036960.txt : 20100827 0001104659-10-036960.hdr.sgml : 20100827 20100702162221 ACCESSION NUMBER: 0001104659-10-036960 CONFORMED SUBMISSION TYPE: CORRESP PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20100702 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GUESS INC CENTRAL INDEX KEY: 0000912463 STANDARD INDUSTRIAL CLASSIFICATION: WOMEN'S, MISSES', CHILDREN'S & INFANTS' UNDERGARMENTS [2340] IRS NUMBER: 953679695 STATE OF INCORPORATION: DE FISCAL YEAR END: 0203 FILING VALUES: FORM TYPE: CORRESP BUSINESS ADDRESS: STREET 1: ATTN: JASON MILLER STREET 2: 1444 SOUTH ALAMEDA STREET CITY: LOS ANGELES STATE: CA ZIP: 90021 BUSINESS PHONE: (213) 765-3100 MAIL ADDRESS: STREET 1: ATTN: JASON MILLER STREET 2: 1444 SOUTH ALAMEDA STREET CITY: LOS ANGELES STATE: CA ZIP: 90021 FORMER COMPANY: FORMER CONFORMED NAME: GUESS INC ET AL/CA/ DATE OF NAME CHANGE: 19940902 CORRESP 1 filename1.htm

 

 

 

July 2, 2010

 

 

VIA EDGAR AND BY FACSIMILE

 

United States Securities and Exchange Commission

Division of Corporation Finance

Mailstop 3561

100 F Street, N.E.

Washington, D.C. 20549

Attn:                Tia Jenkins

Senior Assistant Chief Accountant

Office of Beverages, Apparel and

Healthcare Services

 

Re:                       Guess?, Inc.

Form 10-K for fiscal year ended January 30, 2010

Filed March 31, 2010

File No. 001-11893

 

 

Dear Ms. Jenkins,

 

On behalf of Guess?, Inc (the “Company”), this letter sets forth the Company’s response to the comment of the staff (the “Staff”) of the Securities and Exchange Commission (the “Commission”) set forth in your letter dated June 25, 2010, following up on the Company’s response letter dated June 4, 2010, regarding the Company’s above-referenced Form 10-K (the “Form 10-K”). For your convenience, the Staff’s comment precedes the response.

 

Form 10-K for Fiscal Year Ended January 30, 2010

 

Note (1) Summary of Significant Accounting Policies and Procedures, page F-7

 

1.                                    Please tell us and disclose in future filings, to the extent material, how you reflect any changes in the carrying amount redeemable of noncontrolling interests within your computation of earnings per share.

 


 

Securities and Exchange Commission

July 2, 2010

Page 2 of 2

 

Response:

 

EITF Topic D-98 paragraph 19 requires that when a class of common stock is redeemable at other than fair value, increases or decreases in the carrying amount of the redeemable security should be reflected in earnings per share through the application of the two-class method. Periodic adjustments to the carrying amount that reflect a redemption in excess of fair value are applied to earnings per share using the two-class method while decreases in the security’s carrying amount are applied to earnings per share using the two-class method only to the extent they represent recoveries of amounts previously applied to the two-class method.

 

Our computation of earnings per share has not been impacted to date as we have not experienced a situation where the redemption value of either of our existing put arrangements exceeded their fair value. However, should this situation arise, to the extent that it has a material impact on earnings per share, we undertake to disclose in our quarterly and annual filings how we reflect any changes in the carrying amount of redeemable noncontrolling interests within our computation of earnings per share.

 

*********

 

We appreciate the Staff’s comments and request that the Staff contact the undersigned at (213) 765-3630 or (213) 765-0911 (facsimile) with any questions or comments regarding this letter.

 

 

 

Very truly yours,

 

 

 

 

 

/s/ Jason T. Miller

 

 

 

Jason T. Miller

 

Assistant General Counsel

 

Guess?, Inc.

cc:

 

Brian McAllister

Accounting Examiner

U.S. Securities and Exchange Commission

 

 

Dennis R. Secor

Senior Vice President and Chief Financial Officer

Guess?, Inc.

 

 

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