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Gadzooks4th Qtr. 2001

From: ASAP


Gadzooks, Inc. announced that sales for the five weeks of fiscal December ended January 5, 2002

increased 7.7 percent to $55.9 million compared to $51.9 million for fiscal December last year. Same store sales declined 2.7 percent from the comparable five weeks ended January 6, 2001. The Company reported a 0.3 percent same store sales increase for fiscal December last year. For the first 48 weeks of fiscal 2001 ended January 5, 2002, total sales increased 10.5 percent to $296.0 million compared to $267.8 million for the first 48 weeks of fiscal 2000. Same store sales declined 5.3 percent from the comparable 48 weeks ended January 6, 2001. Same store sales increased 8.2 percent for the first 48 weeks of fiscal 2000. "We are very pleased to see the considerable improvement in our sales trends," stated Jerry Szczepanski, chairman and chief executive officer. "December's sales figures, which exceeded our internal plans, were much stronger than our early fall season results in spite of the continuing difficult retail environment." Szczepanski continued, "We are also comfortable with our current inventory position. Inventories are in line with our plans, down 8.8 percent per square foot compared to fiscal December last year. Based on our operating results to date, we expect to meet or exceed analyst's consensus earnings estimates of $0.41 per share for the fourth quarter." For further details, please call 972-662-4201 to listen to Gadzooks' monthly sales commentary. Dallas-based Gadzooks, Inc. is a mall-based specialty retailer of casual apparel

and related accessories for young men and women principally between the ages of 14 and 18. The Company currently operates 427 Gadzooks stores and four Orchid stores, for a total of 431 stores in 40 states. Certain statements contained in this news release may be deemed forward- looking

statements that involve risks and uncertainties. Reference is made to the "Risk Factors" section of the Company's Annual Report on Form 10-K for the fiscal year

ended February 3, 2001, for factors that, among others, could cause the actual results of the Company to differ materially from those contained in the forward-looking statements.

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