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Gadzooks Reports May Comparable Store Sales Increase

From: ASAP

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Gadzooks, Inc. (Nasdaq: GADZ) today announced that sales for the four weeks of fiscal May ended May 31, 2003 increased 4.4 percent to $23.9 million from $22.9 million for fiscal May 2002. Comparable store sales increased 5.1 percent for the May period, compared to a 1.2 percent decrease for fiscal May of 2002. For the first 17 weeks of fiscal 2003, total sales decreased 6.5 percent to $94.6 million from $101.2 million for the comparable period of fiscal 2002. Comparable store sales have declined 7.1 percent for the first 17 weeks of fiscal 2003, versus a 2.0 percent decline for the first 17 weeks of fiscal 2002. For further details, please call 972-662-4201 to listen to Gadzooks' monthly sales commentary. Dallas-based Gadzooks is a mall-based specialty retailer of casual clothing and accessories offering young men's apparel, junior apparel, accessories and footwear. The Company is converting its stores to an all- female assortment early in the second half of 2003. Gadzooks currently operates 425 Gadzooks stores and four Orchid stores, for a total of 429 stores in 41 states. Gadzooks' Web site address is www.gadzooks.com .

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