The following is a summary of the unaudited quarterly financial information for fiscal 2017 and fiscal 2016 (in thousands, except per share data):



	Quarterly Periods Ended (1)
Year Ended January 28, 2017	Apr 30, 2016			Jul 30, 2016		Oct 29, 2016		Jan 28, 2017
Net revenue	$	448,815		$	544,959	$	536,321	$	679,273
Gross profit	142,759			185,632		180,242		236,407
Net earnings (loss)	(25,154		)	32,167		9,729		8,656
Net earnings (loss) attributable to Guess?, Inc.	(25,178		)	32,269		9,103		6,567
Net earnings (loss) per common share attributable to common stockholders: (2) (3) (4) (5) (6)
Basic	$	(0.30	)	$	0.38	$	0.11	$	0.08
Diluted	$	(0.30	)	$	0.38	$	0.11	$	0.08



	Quarterly Periods Ended (1)
Year Ended January 30, 2016	May 2, 2015		Aug 1, 2015		Oct 31, 2015		Jan 30, 2016
Net revenue	$	478,824	$	546,264	$	520,964	$	658,259
Gross profit	165,485		198,117		183,664		240,164
Net earnings	3,987		18,479		13,061		49,288
Net earnings attributable to Guess?, Inc.	3,341		18,289		12,444		47,777
Net earnings per common share attributable to common stockholders: (2) (3)
Basic	$	0.04	$	0.21	$	0.15	$	0.57
Diluted	$	0.04	$	0.21	$	0.15	$	0.57

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(1)	All fiscal quarters presented consisted of 13 weeks.


(2)	Per common share amounts for the quarters and full years have been calculated separately. Accordingly, quarterly amounts may not add to the annual amount because of differences in the average common shares outstanding during each period.

(3)

During each of the periods presented, the Company recognized asset impairment charges for certain retail locations resulting from under-performance and expected store closures. The Company recorded asset impairment charges of $0.2 million, $0.5 million, $0.8 million and $32.9 million, respectively, during the first, second, third and fourth quarters of fiscal 2017. The Company also recorded asset impairment charges of $1.1 million, $0.7 million, $0.2 million and $0.3 million, respectively, during the first, second, third and fourth quarters of fiscal 2016. Refer to Note 5 for further detail regarding the asset impairment charges.


(4)	During fiscal 2017, the Company recorded restructuring charges of $6.1 million and a related estimated exit tax charge of approximately $1.9 million. The restructuring charges and related estimated exit tax charge were recorded during the three months ended April 30, 2016. Refer to Note 9 for further detail regarding these charges.


(5)	During fiscal 2017, the Company sold its minority interest equity holding in a privately-held boutique apparel company for net proceeds of approximately $34.8 million, which resulted in a gain of approximately $22.3 million which was recorded in other income. The gain was recorded during the three months ended July 30, 2016.

(6)

During fiscal 2017, the Company recorded valuation reserves of $6.8 million resulting from jurisdictions where there have been cumulative net operating losses, limiting the Company’s ability to consider other subjective evidence to continue to recognize the existing deferred tax assets. The Company recorded the valuation reserve during the three months ended January 28, 2017. Refer to Note 11 for further details.