EXHIBIT 99.1 GUESS ?, INC. AND SUBSIDIARIES VALUATION AND QUALIFYING ACCOUNTS YEARS ENDED DECEMBER 31, 1997, 1998, AND 1999 (IN THOUSANDS) BALANCE AT CHARGED TO DEDUCTIONS BALANCE AT BEGINNING COSTS AND AND END DESCRIPTION OF PERIOD EXPENSES WRITE-OFFS OF PERIOD - ----------- ---------- ---------- ---------- ---------- As of December 31, 1997 Allowance for obsolescence........................ $ 3,257 $ 3,764 $ (3,456) $ 3,565 Reserves for accounts receivable.................. 9,720 12,746 (11,270) 11,196 Allowance for doubtful royalties.................. -- -- -- -- As of December 31, 1998 Allowance for obsolescence........................ 3,565 3,512 (3,217) 3,860 Reserves for accounts receivable.................. 11,196 8,542 (11,901) 7,837 Allowance for doubtful royalties.................. -- 3,667 -- 3,667 As of December 31, 1999 Allowance for obsolescence........................ 3,860 583 (2,079) 2,364 Reserves for accounts receivable.................. 7,837 1,398 (372) 8,863 Allowance for doubtful royalties.................. 3,667 1,657 (4,066) 1,258