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To: Tina McKinley who wrote (14107)	5/7/1998 9:00:00 AM
From: Stephen McCullough	Respond to of 53068

GYMB News: -------------------------------------------------------------------------------- Thursday May 7, 8:04 am Eastern Time Company Press Release The Gymboree Corporation Reports April Sales BURLINGAME, Calif.--(BUSINESS WIRE)--May 7, 1998--The Gymboree Corporation (NASDAQ: GYMB - news) reported net sales for the four week period ended May 2, 1998 of $27.7 million, an increase of 16% from sales of $23.8 million for the same period last year. Comparable store sales for the four week period decreased 2% compared to last year. Net sales for the first fiscal quarter ended May 2, 1998 were $103.1 million, an increase of 21% from sales of $85.2 million for the same period last year. Comparable store sales for the quarter increased 1% compared to last year. Gymboree President and CEO, Gary White, also announced the resignation of Chief Financial Officer, Mary P. Shepard, who left by mutual agreement to pursue other career interests. Esther L. Koch, the Company's Vice President, Finance and Corporate Controller, was named acting Chief Financial Officer while the Company conducts a national search for a replacement for Shepard. The Gymboree Corporation designs, manufactures, and retails unique, high quality apparel and accessories for children from birth to seven years of age. The Company operates 464 stores which includes 440 stores in 48 states in the U.S., 12 stores in Canada, and 12 stores in Europe. The Company also offers directed parent-child developmental play programs at over 390 franchised centers. The foregoing paragraphs may contain forward-looking statements within the meaning of the Federal Securities laws. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of factors, including competitive market conditions, the degree of promotional pricing activity by the Company, inventory levels, the ability of the Company to successfully identify and respond to emerging children's fashion trends, the ability of the Company to effectively monitor and control costs, the ability of the Company to effectively manage international and domestic growth, levels of discretionary consumer spending and general economic conditions. Other factors that may cause actual results to differ materially include those set forth in the reports that the Company files from time to time with the Securities and Exchange Commission. -------------------------------------------------------------------------------- Contact: The Gymboree Corp., 650/696-7540 (Investors) or Kekst and Company Dawn Dover, 212/521-4817 (Media)