SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* MARCIANO PAUL (Last) (First) (Middle) C/O GUESS?, INC. 1444 SOUTH ALAMEDA STREET (Street) LOS ANGELES CA 90021 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol GUESS INC ET AL/CA/ [ GES ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director X 10% Owner X Officer (give title below) Other (specify below) Co-Chairman and Co-CEO
	3. Date of Earliest Transaction (Month/Day/Year) 02/25/2004
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/25/2004		S		1,100	D	$15.78	12,811,168(1)	I	By Paul Marciano Trust
Common Stock	02/25/2004		S		1,500	D	$15.95	12,809,668(2)	I	By Paul Marciano Trust
Common Stock	02/25/2004		S		600	D	$15.67	12,809,068(3)	I	By Paul Marciano Trust
Common Stock	02/25/2004		S		300	D	$15.7	12,808,768(4)	I	By Paul Marciano Trust
Common Stock	02/25/2004		S		5,600	D	$16	12,803,168(5)	I	By Paul Marciano Trust
Common Stock	02/25/2004		S		2,500	D	$15.79	12,800,668(6)	I	By Paul Marciano Trust
Common Stock	02/25/2004		S		200	D	$15.64	12,800,468(7)	I	By Paul Marciano Trust
Common Stock	02/25/2004		S		800	D	$15.65	12,799,668(8)	I	By Paul Marciano Trust
Common Stock	02/25/2004		S		400	D	$15.61	12,799,268(9)	I	By Paul Marciano Trust
Common Stock	02/25/2004		S		300	D	$15.53	12,798,968(10)	I	By Paul Marciano Trust
Common Stock	02/25/2004		S		200	D	$15.63	12,798,768(11)	I	By Paul Marciano Trust
Common Stock	02/25/2004		S		100	D	$15.73	12,798,668(12)	I	By Paul Marciano Trust
Common Stock	02/25/2004		S		100	D	$15.71	12,798,568(13)	I	By Paul Marciano Trust
Common Stock	02/25/2004		S		1,000	D	$15.55	12,797,568(14)	I	By Paul Marciano Trust
Common Stock	02/25/2004		S		600	D	$15.75	12,796,968(15)	I	By Paul Marciano Trust
Common Stock	02/25/2004		S		100	D	$15.76	12,796,868(16)	I	By Paul Marciano Trust
Common Stock	02/25/2004		S		1,100	D	$15.88	12,795,768(17)	I	By Paul Marciano Trust
Common Stock	02/25/2004		S		2,800	D	$15.74	12,792,968(18)	I	By Paul Marciano Trust
Common Stock	02/25/2004		S		1,300	D	$15.8	12,791,668(19)	I	By Paul Marciano Trust
Common Stock	02/25/2004		S		78,900	D	$15.85	12,712,768(20)	I	By Paul Marciano Trust
Common Stock	02/25/2004		S		2,100	D	$15.82	12,710,668(21)	I	By Paul Marciano Trust
Common Stock	02/25/2004		S		900	D	$15.84	12,709,768(22)	I	By Paul Marciano Trust
Common Stock	02/25/2004		S		600	D	$15.83	12,709,168(23)	I	By Paul Marciano Trust
Common Stock	02/25/2004		S		500	D	$15.9	12,708,668(24)	I	By Paul Marciano Trust
Common Stock	02/25/2004		S		1,000	D	$15.81	12,707,668(25)	I	By Paul Marciano Trust
Common Stock	02/25/2004		S		900	D	$15.56	12,706,768(26)	I	By Paul Marciano Trust
Common Stock	02/25/2004		S		42,700	D	$15.5	12,664,068(27)	I	By Paul Marciano Trust
Common Stock	02/25/2004		S		100	D	$15.6	12,663,968(28)	I	By Paul Marciano Trust
Common Stock	02/25/2004		S		100	D	$15.52	12,663,868(29)	I	By Paul Marciano Trust
Common Stock	02/25/2004		S		500	D	$15.59	12,662,268(30)(31)	I	By Paul Marciano Trust

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Includes shares of Common Stock beneficially owned by Paul Marciano as follows: 12,670,298 shares held indirectly as sole trustee of the Paul Marciano Trust, dated 2/20/86 and 140,870 shares held indirectly as co-trustee of the Maurice Marciano 2001 Children's Trust.

2. Includes shares of Common Stock beneficially owned by Paul Marciano as follows: 12,668,798 shares held indirectly as sole trustee of the Paul Marciano Trust, dated 2/20/86 and 140,870 shares held indirectly as co-trustee of the Maurice Marciano 2001 Children's Trust.

3. Includes shares of Common Stock beneficially owned by Paul Marciano as follows: 12,668,198 shares held indirectly as sole trustee of the Paul Marciano Trust, dated 2/20/86 and 140,870 shares held indirectly as co-trustee of the Maurice Marciano 2001 Children's Trust.

4. Includes shares of Common Stock beneficially owned by Paul Marciano as follows: 12,667,898 shares held indirectly as sole trustee of the Paul Marciano Trust, dated 2/20/86 and 140,870 shares held indirectly as co-trustee of the Maurice Marciano 2001 Children's Trust.

5. Includes shares of Common Stock beneficially owned by Paul Marciano as follows: 12,662,298 shares held indirectly as sole trustee of the Paul Marciano Trust, dated 2/20/86 and 140,870 shares held indirectly as co-trustee of the Maurice Marciano 2001 Children's Trust.

6. Includes shares of Common Stock beneficially owned by Paul Marciano as follows: 12,659,798 shares held indirectly as sole trustee of the Paul Marciano Trust, dated 2/20/86 and 140,870 shares held indirectly as co-trustee of the Maurice Marciano 2001 Children's Trust.

7. Includes shares of Common Stock beneficially owned by Paul Marciano as follows: 12,659,598 shares held indirectly as sole trustee of the Paul Marciano Trust, dated 2/20/86 and 140,870 shares held indirectly as co-trustee of the Maurice Marciano 2001 Children's Trust.

8. Includes shares of Common Stock beneficially owned by Paul Marciano as follows: 12,658,798 shares held indirectly as sole trustee of the Paul Marciano Trust, dated 2/20/86 and 140,870 shares held indirectly as co-trustee of the Maurice Marciano 2001 Children's Trust.

9. Includes shares of Common Stock beneficially owned by Paul Marciano as follows: 12,658,398 shares held indirectly as sole trustee of the Paul Marciano Trust, dated 2/20/86 and 140,870 shares held indirectly as co-trustee of the Maurice Marciano 2001 Children's Trust.

10. Includes shares of Common Stock beneficially owned by Paul Marciano as follows: 12,658,098 shares held indirectly as sole trustee of the Paul Marciano Trust, dated 2/20/86 and 140,870 shares held indirectly as co-trustee of the Maurice Marciano 2001 Children's Trust.

11. Includes shares of Common Stock beneficially owned by Paul Marciano as follows: 12,657,898 shares held indirectly as sole trustee of the Paul Marciano Trust, dated 2/20/86 and 140,870 shares held indirectly as co-trustee of the Maurice Marciano 2001 Children's Trust.

12. Includes shares of Common Stock beneficially owned by Paul Marciano as follows: 12,657,798 shares held indirectly as sole trustee of the Paul Marciano Trust, dated 2/20/86 and 140,870 shares held indirectly as co-trustee of the Maurice Marciano 2001 Children's Trust.

13. Includes shares of Common Stock beneficially owned by Paul Marciano as follows: 12,657,698 shares held indirectly as sole trustee of the Paul Marciano Trust, dated 2/20/86 and 140,870 shares held indirectly as co-trustee of the Maurice Marciano 2001 Children's Trust.

14. Includes shares of Common Stock beneficially owned by Paul Marciano as follows: 12,656,698 shares held indirectly as sole trustee of the Paul Marciano Trust, dated 2/20/86 and 140,870 shares held indirectly as co-trustee of the Maurice Marciano 2001 Children's Trust.

15. Includes shares of Common Stock beneficially owned by Paul Marciano as follows: 12,656,098 shares held indirectly as sole trustee of the Paul Marciano Trust, dated 2/20/86 and 140,870 shares held indirectly as co-trustee of the Maurice Marciano 2001 Children's Trust.

16. Includes shares of Common Stock beneficially owned by Paul Marciano as follows: 12,655,998 shares held indirectly as sole trustee of the Paul Marciano Trust, dated 2/20/86 and 140,870 shares held indirectly as co-trustee of the Maurice Marciano 2001 Children's Trust.

17. Includes shares of Common Stock beneficially owned by Paul Marciano as follows: 12,654,898 shares held indirectly as sole trustee of the Paul Marciano Trust, dated 2/20/86 and 140,870 shares held indirectly as co-trustee of the Maurice Marciano 2001 Children's Trust.

18. Includes shares of Common Stock beneficially owned by Paul Marciano as follows: 12,652,098 shares held indirectly as sole trustee of the Paul Marciano Trust, dated 2/20/86 and 140,870 shares held indirectly as co-trustee of the Maurice Marciano 2001 Children's Trust.

19. Includes shares of Common Stock beneficially owned by Paul Marciano as follows: 12,650,798 shares held indirectly as sole trustee of the Paul Marciano Trust, dated 2/20/86 and 140,870 shares held indirectly as co-trustee of the Maurice Marciano 2001 Children's Trust.

20. Includes shares of Common Stock beneficially owned by Paul Marciano as follows: 12,571,898 shares held indirectly as sole trustee of the Paul Marciano Trust, dated 2/20/86 and 140,870 shares held indirectly as co-trustee of the Maurice Marciano 2001 Children's Trust.

21. Includes shares of Common Stock beneficially owned by Paul Marciano as follows: 12,569,798 shares held indirectly as sole trustee of the Paul Marciano Trust, dated 2/20/86 and 140,870 shares held indirectly as co-trustee of the Maurice Marciano 2001 Children's Trust.

22. Includes shares of Common Stock beneficially owned by Paul Marciano as follows: 12,568,898 shares held indirectly as sole trustee of the Paul Marciano Trust, dated 2/20/86 and 140,870 shares held indirectly as co-trustee of the Maurice Marciano 2001 Children's Trust.

23. Includes shares of Common Stock beneficially owned by Paul Marciano as follows: 12,568,298 shares held indirectly as sole trustee of the Paul Marciano Trust, dated 2/20/86 and 140,870 shares held indirectly as co-trustee of the Maurice Marciano 2001 Children's Trust.

24. Includes shares of Common Stock beneficially owned by Paul Marciano as follows: 12,567,798 shares held indirectly as sole trustee of the Paul Marciano Trust, dated 2/20/86 and 140,870 shares held indirectly as co-trustee of the Maurice Marciano 2001 Children's Trust.

25. Includes shares of Common Stock beneficially owned by Paul Marciano as follows: 12,566,798 shares held indirectly as sole trustee of the Paul Marciano Trust, dated 2/20/86 and 140,870 shares held indirectly as co-trustee of the Maurice Marciano 2001 Children's Trust.

26. Includes shares of Common Stock beneficially owned by Paul Marciano as follows: 12,565,898 shares held indirectly as sole trustee of the Paul Marciano Trust, dated 2/20/86 and 140,870 shares held indirectly as co-trustee of the Maurice Marciano 2001 Children's Trust.

27. Includes shares of Common Stock beneficially owned by Paul Marciano as follows: 12,523,198 shares held indirectly as sole trustee of the Paul Marciano Trust, dated 2/20/86 and 140,870 shares held indirectly as co-trustee of the Maurice Marciano 2001 Children's Trust.

28. Includes shares of Common Stock beneficially owned by Paul Marciano as follows: 12,523,098 shares held indirectly as sole trustee of the Paul Marciano Trust, dated 2/20/86 and 140,870 shares held indirectly as co-trustee of the Maurice Marciano 2001 Children's Trust.

29. Includes shares of Common Stock beneficially owned by Paul Marciano as follows: 12,522,998 shares held indirectly as sole trustee of the Paul Marciano Trust, dated 2/20/86 and 140,870 shares held indirectly as co-trustee of the Maurice Marciano 2001 Children's Trust.

30. Following the sale of 500 shares at $15.59, the amount of shares owned beneficially by the reporting person is 12,663,368: includes shares of Common Stock beneficially owned by Paul Marciano as follows: 12,522,498 shares held indirectly as sole trustee of the Paul Marciano Trust, dated 2/20/86 and 140,870 shares held indirectly as co-trustee of the Maurice Marciano 2001 Children's Trust.

31. The reporting person also engaged in one additional sale of common stock on 2/25/04 involving 1,100 shares at $15.58 per share. The transaction code applicable to this sale is "S."

Remarks:

	Paul Marciano	02/27/2004
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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