Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
MARCIANO MAURICE
   2. Issuer Name and Ticker or Trading Symbol
GUESS INC [GES] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director __X__ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chairman of the Board
(Last)
(First)
(Middle)
C/O GUESS?, INC., 1444 SOUTH ALAMEDA STREET		 3. Date of Earliest Transaction (Month/Day/Year)
06/22/2011
(Street)

LOS ANGELES, CA 90021		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 06/22/2011   S   375,000 D $ 42.6 (1) 9,618,571 I by MM Trust (2)
Common Stock 06/23/2011   S   375,000 D $ 42.03 (3) 9,243,571 I by MM Trust (2)
Common Stock 06/23/2011   M   35,850 A $ 18.1 147,900 D  
Common Stock 06/23/2011   M   90,000 A $ 22.03 237,900 D  
Common Stock 06/23/2011   S   125,850 D $ 42.01 112,050 D  
Common Stock 06/24/2011   S   90,000 D $ 41.51 (4) 9,153,571 I by MM Trust (2)
Common Stock               1,164,971 I by MFH IV, LLC (5)
Common Stock               2,000,000 I by MNM, LLC (6)
Common Stock               2,000,000 I by Next Step Capital LLC (7)
Common Stock               70 I by trust (8)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (right to buy) $ 18.1 06/23/2011   M     35,850   (9) 03/06/2016 Common Stock 35,850 $ 0 0 D  
Employee Stock Option (right to buy) $ 22.03 06/23/2011   M     90,000   (10) 04/14/2019 Common Stock 90,000 $ 0 90,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
MARCIANO MAURICE
C/O GUESS?, INC.
1444 SOUTH ALAMEDA STREET
LOS ANGELES, CA 90021		   X   X   Chairman of the Board  

Signatures

 /s/ Jason T. Miller (attorney-in-fact)   06/24/2011
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The reported price represents the weighted average price for shares sold in multiple transactions ranging from $42.55 to $42.85. The details of the amounts and prices will be provided to the Issuer, any shareholders of the Issuer or the SEC on request.
(2) Securities are held by the Maurice Marciano Trust (2005 Restatement), a revocable trust of which the reporting person is the sole trustee and sole beneficiary and has the exclusive pecuniary interest.
(3) The reported price represents the weighted average price for shares sold in multiple transactions ranging from $41.95 to $42.04. The details of the amounts and prices will be provided to the Issuer, any shareholders of the Issuer or the SEC on request.
(4) The reported price represents the weighted average price for shares sold in multiple transactions ranging from $41.50 to $41.52. The details of the amounts and prices will be provided to the Issuer, any shareholders of the Issuer or the SEC on request.
(5) Shares are held by Marciano Financial Holdings IV, LLC in accounts specifically allocated to trusts for the benefit of the reporting person and his children.
(6) Shares are held by MNM Capital Holdings, LLC in accounts specifically allocated to trusts for the benefit of the reporting persons and his children.
(7) Securities are held by Next Step Capital LLC, of which the reporting person has sole investment power and exclusive pecuniary interest.
(8) Shares are held by Maurice Marciano Gift Trust FBO Caroline Marciano, of which the reporting person is the sole trustee.
(9) The option vested in full on January 1, 2010.
(10) The option vested 25% on each December 31 of 2009 and 2010. The balance of the option is scheduled to vest 25% on each December 31 of 2011 and 2012.

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