UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 11-K
[X] ANNUAL REPORT UNDER SECTION 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934 [FEE REQUIRED]
For the fiscal year ended December 31, 1995
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE
SECURITIES EXCHANGE ACT [NO FEE REQUIRED]
For the transition period from _________________ to
______________________.
Commission file number 1-09100
Gottschalks Inc. Retirement Savings Plan and Trust
(Full Title of the Plan)
Gottschalks Inc.
(Name of Issuer)
Delaware 77-0159791
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
7 River Park Place East, Fresno, California 93720
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code (209) 434-8000
GOTTSCHALKS INC. RETIREMENT SAVINGS PLAN AND TRUST
TABLE OF CONTENTS
Page
INDEPENDENT AUDITORS' REPORT 1
FINANCIAL STATEMENTS AS OF AND FOR THE ELEVEN
MONTH PERIOD ENDED DECEMBER 31, 1995 AND THE
YEAR ENDED JANUARY 31, 1995
Statements of Net Assets Available for
Benefits 2
Statements of Changes in Net Amounts Available for
Benefits with Supplemental Information by Fund 3-4
Notes to Financial Statements 5-10
SUPPLEMENTAL SCHEDULES AS OF AND FOR THE ELEVEN
MONTH PERIOD ENDED DECEMBER 31, 1995
Schedule I:
Item 27a - Schedule of Assets Held for Investment
Purposes 11
Schedule II:
Item 27d - Schedule of Reportable (5%) Transactions 12
Supplemental schedules not listed above have been omitted
because of the absence of conditions under which they are
required.
SIGNATURE 13
INDEPENDENT AUDITORS' REPORT
Board of Directors and Plan participants of
Gottschalks Inc. Retirement Savings Plan and Trust
Fresno, California
We have audited the accompanying statements of net assets
available for benefits of Gottschalks Inc. Retirement Savings
Plan and Trust as of December 31, 1995 and January 31, 1995 and
the related statements of changes in net assets available for
benefits for the eleven month period ended December 31, 1995 and
for the year ended January 31, 1995. These financial statements
are the responsibility of the Plan's management. Our
responsibility is to express an opinion on these financial
statements based on our audits.
We conducted our audits in accordance with generally accepted
auditing standards. Those standards require that we plan and
perform the audit to obtain reasonable assurance about whether
the financial statements are free of material misstatement. An
audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An
audit also includes assessing the accounting principles used and
significant estimates made by management, as well as evaluating
the overall financial statement presentation. We believe that
our audits provide a reasonable basis for our opinion.
In our opinion, such financial statements present fairly, in all
material respects, the net assets available for benefits of the
Plan as of December 31, 1995 and January 31, 1995, and the
changes in net assets available for benefits for the eleven
month period ended December 31, 1995 and for the year ended
January 31, 1995, in conformity with generally accepted
accounting principles.
Our audits were conducted for the purpose of forming an opinion
on the basic financial statements taken as a whole. The
accompanying supplemental schedules of (1) assets held for
investment purposes as of December 31, 1995 and (2) reportable
(5%) transactions for the eleven month period ended December 31,
1995 are presented for the purpose of additional analysis and
are not a required part of the basic financial statements, but
are supplementary information required by the Department of
Labor's Rules and Regulations for Reporting and Disclosure Under
the Employee Retirement Income Security Act of 1974. The
supplemental information by fund, included in page 3 and 4, is
presented for the purpose of additional analysis of the basic
financial statements rather than to present information
regarding the net assets available for benefits and changes in
net assets available for benefits of the individual funds, and
is not a required part of the basic financial statements. The
supplemental schedules and supplemental information by fund is
the responsibility of the Plan's management. Such supplemental
schedules and supplemental information by fund have been
subjected to the auditing procedures applied in our audit of the
basic financial statements and, in our opinion, are fairly
stated in all material respects when considered in relation to
the basic financial statements taken as a whole.
s/Deloitte & Touche LLP
Deloitte & Touche LLP
June 17, 1996
GOTTSCHALKS INC. RETIREMENT SAVINGS PLAN AND TRUST
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
<TABLE>
<CAPTION>
December 31, January 31,
1995 1995
ASSETS
INVESTMENTS AT FAIR VALUE
(Notes 2 and 3):
Wells Fargo Bank Investment Funds
for Retirement Plans:
Gottschalks Inc. Common Stock
<S> <C> <C>
Fund $2,149,556 $2,816,468
Asset Allocation Fund* 2,601,339 1,841,907
Income Accumulation Fund* 1,364,727 1,127,834
S&P 500 Stock Fund* 881,403 610,782
Growth Stock Fund 384,380 182,391
S&P MidCap Stock Fund 300,992 174,440
Loans to participants* 649,304 609,030
Total investments 8,331,701 7,362,852
RECEIVABLES:
Employer Contributions 424,792 243,591
Participants' Contributions 39,566 25,601
464,358 269,192
CASH 70 29,820
8,796,129 7,661,864
LIABILITIES
PAYABLE TO PARTICIPANTS (Note 4) 17,789 1,890
NET ASSETS AVAILABLE FOR BENEFITS $8,778,340 $7,659,974
* Represents individual investments in excess of 5% of net
assets available for benefits as of the beginning of the
Plan periods ended December 31, 1995 and January 31, 1995.
See notes to financial statements.
</TABLE>
GOTTSCHALKS INC. RETIREMENT SAVINGS PLAN AND TRUST
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE ELEVEN MONTH PERIOD ENDED DECEMBER 31, 1995
<TABLE>
<CAPTION>
SUPPLEMENTAL INFORMATION FUND
NON-
PARTICIPANT
DIRECTED PARTICIPANT DIRECTED
GOTTSCHALKS GOTTSCHALKS
INC. INC. INCOME S&P
COMMON COMMON ASSET ACCUM- 500
STOCK STOCK ALLOCATION ULATION STOCK
FUND FUND FUND FUND FUND
ADDITIONS TO PLAN
ASSETS ATTRIBUTED TO:
Investment income (loss):
Net appreciation
(depreciation) in fair
<S> <C> <C> <C> <C> <C>
value of investments ($381,908) ($443,341) $505,284 $210,405
Interest Income $ 72,902
( 381,908) ( 443,341) 505,284 72,902 210,405
Contributions:
Employer 424,792
Participants 267,508 436,754 320,824 162,416
424,792 267,508 436,754 320,824 162,416
Increase (Decrease) 42,884 (175,833) 942,038 393,726 372,821
DEDUCTIONS FROM NET ASSETS
ATTRIBUTED TO:
Benefits paid to
participants (121,353) (126,307) (165,840) (179,357) (91,011)
Administrative expenses (1,299) (1,352) (4,109) (2,712) (1,118)
Total deductions (122,652) (127,659) (169,949) (182,069) (92,129)
NET INCREASE (DECREASE)
PRIOR TO INTERFUND
TRANSFERS (79,768) (303,492) 772,089 211,657 280,692
INTERFUND TRANSFERS (210,900) (72,752) (12,657) 25,236 (10,071)
NET INCREASE (DECREASE) (290,668) (376,244) 759,432 236,893 270,621
NET ASSETS AVAILABLE FOR
BENEFITS:
BEGINNING OF YEAR 1,360,310 1,456,158 1,841,907 1,127,834 610,782
END OF YEAR $1,069,642 $1,079,914 $2,601,339 $1,364,727 $881,403
S&P
GROWTH MIDCAP LOANS
STOCK STOCK TO
FUND FUND PARTICIPANTS CASH OTHER TOTAL
ADDITIONS TO PLAN
ASSETS ATTRIBUTED TO:
Investment income(loss):
Net appreciation
(depreciation) in fair
value of investments $77,391 $55,737 $ 23,568
Interest Income $50,118 $1,635 124,655
77,391 55,737 50,118 1,635 148,223
Contributions:
Employer (37,079) 387,713
Participant 87,664 71,633 794 (1,933) 1,345,660
87,664 71,633 (36,285) (1,933) 1,733,373
Increase (Decrease) 165,055 127,370 50,118 (34,650) (1,933) 1,881,596
DEDUCTIONS FROM NET
ASSETS ATTRIBUTED TO:
Benefits paid to
participants (9,752) (9,117) (34,693) (14,545) (751,975)
Administrative expenses( 183) ( 258) ( 224) ( 11,255)
Total Deductions (9,935) (9,375) (34,693) (14,769) (763,230)
NET INCREASE(DECREASE)
PRIOR TO INTERFUND
TRANSFERS 155,120 117,995 15,425 (49,419) (1,933) 1,118,366
INTERFUND TRANSFERS 46,869 8,557 24,849 19,669 181,200 0
NET INCREASE(DECREASE) 201,989 126,552 40,274 (29,750) 179,267 1,118,366
NET ASSETS AVAILABLE
FOR BENEFITS:
BEGINNING OF YEAR 182,391 174,440 609,030 29,820 267,302 7,659,794
END OF YEAR $384,380 $300,992 $649,304 $ 70 $446,569 $8,778,340
</TABLE>
See notes to financial statements
GOTTSCHALKS INC. RETIREMENT SAVINGS PLAN AND TRUST
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
FOR THE ELEVEN MONTH PERIOD ENDED JANUARY 31, 1995
<TABLE>
<CAPTION>
SUPPLEMENTAL INFORMATION FUND
NON-
PARTICIPANT
DIRECTED PARTICIPANT DIRECTED
GOTTSCHALKS GOTTSCHALKS
INC. INC. INCOME S&P
COMMON COMMON ASSET ACCUM- 500
STOCK STOCK ALLOCATION ULATION STOCK
FUND FUND FUND FUND FUND
ADDITIONS TO PLAN
ASSETS ATTRIBUTED TO:
Investment income (loss):
Net appreciation
(depreciation) in fair
<S> <C> <C> <C> <C> <C>
value of investments ($236,924) ($242,986) ($42,837) $4,044
Interest income $40,134
(236,924) (242,986) (42,837) 40,134 4,044
Contributions:
Employer 217,434
Participants 308,257 456,834 300,422 151,593
217,434 308,257 456,834 300,422 151,593
Increase (Decrease) (19,490) 65,271 413,997 340,556 155,637
DEDUCTIONS FROM NET ASSETS
ATTRIBUTED TO:
Benefits paid to
participants (165,952) (133,642) (106,057) (117,360) (25,401)
Administrative expenses (116) (2,480) (3,034) (2,042) (696)
Total deductions (166,068) (136,122) (109,091) (119,402) (26,097)
NET INCREASE (DECREASE)
PRIOR TO INTERFUND
TRANSFERS (185,558) (70,851) 304,906 221,154 129,540
INTERFUND TRANSFERS (11,275) 8,683 (111,195) (29,361) (43,513)
NET INCREASE (DECREASE) (196,833) (62,169) 193,711 191,793 86,027
NET ASSETS AVAILABLE FOR
BENEFITS:
BEGINNING OF YEAR 1,557,143 1,518,326 1,648,196 936,041 524,755
END OF YEAR $1,360,310 $1,456,148 $1,841,907 $1,127,834 $610,782
S&P
GROWTH MIDCAP LOANS
STOCK STOCK TO
FUND FUND PARTICIPANTS CASH OTHER TOTAL
ADDITIONS TO PLAN ASSETS
ATTRIBUTED TO:
Investment income(loss):
Net appreciation
(depreciation) in fair
value of investments ($2,419) ($9,294) ($530,416)
Interest income $45,510 $1,032 86,676
(2,419) (9,294) 45,510 1,032 (443,740)
Contributions:
Employer $18,334 235,768
Participants 53,160 55,408 360 47,446 1,373,480
53,160 55,408 360 65,780 1,609,248
Increase (Decrease) 50,741 46,114 45,510 1,392 65,780 1,165,508
DEDUCTIONS FROM NET
ASSETS ATTRIBTUED TO:
Benefits paid to
participants (12,933) (6,999) (46,324) (5,210) (619,878)
Administrative
expenses ( 64) ( 151) (2,640) ( 11,223)
Total Deductions (12,997) (7,150) (46,324) (7,850) (631,101)
NET INCREASE(DECREASE)
PRIOR TO INTERFUND
TRANSFERS 37,744 38,964 ( 814) (6,458) 65,780 534,407
INTERFUND TRANSFERS 26,188 (26,527) 167,855 19,145 0
NET ASSETS AVAILABLE FOR
BENEFITS:
BEGINNING OF YEAR 118,459 162,003 441,989 17,133 201,522 7,152,567
END OF YEAR $182,391 $174,440 $609,030 $ 29,820 $267,302 $7,659,974
</TABLE>
See notes to financial statements
GOTTSCHALKS INC. RETIREMENT SAVINGS PLAN AND TRUST
NOTES TO FINANCIAL STATEMENTS
ELEVEN MONTH PERIOD ENDED DECEMBER 31, 1995 AND YEAR ENDED
JANUARY 31, 1995
1. DESCRIPTION OF THE PLAN
The following description of Gottschalks Inc. Retirement
Savings Plan and Trust (the "Plan") is included for
informational purposes only. Participants should refer to
the Plan document for a more complete description of the
Plan's provisions.
a. General - The Plan is a defined contribution profit
sharing plan designed to cover all employees of
Gottschalks Inc. ("the Company"), who have completed
at least one year of employment with not less than
1,000 hours of service, are age twenty-one or older
and are not covered by a collective bargaining
agreement. The Plan is subject to the provisions of
the Employee Retirement Income Security Act of 1974
(ERISA).
b. Contributions - Each year participants may
contribute up to 10% of their annual eligible
compensation to the Plan (Note 2), subject to
certain limitations, as prescribed by the Internal
Revenue Code. Participants may also contribute
amounts representing distributions from other
qualified defined benefit or defined contribution
plans. The Board of Directors of the Company may
elect to make an annual discretionary matching
contribution to the Plan of up to 2% of each
participant's annual eligible compensation, not to
exceed each participant's contribution amount. The
Company's contributions may be made in the form of
cash or common stock of the Company. For the eleven
month period ended December 31, 1995, the Company
contributed $387,713 to the Plan in the form of
common stock of the Company, representing 2% of
eligible compensation for the period less
forfeitures of $37,079 from the prior year. For the
year ended January 31, 1995, the Company contributed
$235,768 to the Plan in the form of common stock of
the Company, representing 2% of eligible
compensation for one half of the year, less
forfeitures of $7,823 from the prior year.
c. Participant Accounts - Each participant's account is
credited with the participant's contribution and
allocations of (a) the Company's contribution and
(b) Plan earnings, and is charged with an allocation
of administrative expenses. Allocations are based
on participant earnings or account balances, as
defined. Forfeited balances of terminated
participants' nonvested accounts are used to reduce
future Company contributions to the Plan. All
participants have a proportionate undivided interest
in the Plan's net assets. The benefit to which a
participant is entitled is the benefit that can be
provided from the participant's vested account.
d. Loans to Participants - The Plan allows
participants, subject to certain rules, to borrow up
to 50% of the vested portion of their account
balance, up to a maximum of $50,000. Amounts
borrowed are generally repaid through automatic
payroll deductions over a time period not to exceed
five years, except for loans for the purchase of a
primary residence which may be repaid over a period
of fifteen years. The collection of principal and
interest on loans to participants was administered
by the trust department of Wells Fargo Bank, the
Plan's Trustee through December 31, 1995 (Note 2).
The loans are secured by the balance in the
participant's account and bear interest at a fixed
rate determined upon funding the loan equal to the
treasury rate plus 2%. Interest rates on
outstanding participant loans currently range from
6.1% to 10.5%.
e. Vesting - Participants are immediately vested in
their voluntary contributions to the Plan, plus
actual earnings thereon. Vesting in the employer
contribution portion of their accounts plus actual
earnings thereon is based on years of continuous
service. A participant is 100 percent vested after
four years of continuous service, or if they leave
the Company at or after age 65, or because of
disability or death.
Vested amounts allocated to accounts of persons who
have withdrawn from participation in the earnings
and operations of the Plan were $280,068 at December
31, 1995 and $217,000 at January 31, 1995.
f. Investment Options - Through December 31, 1995, upon
enrollment in the Plan, participants may direct
their employee contributions among any six of the
following Wells Fargo Bank Investment Funds for
Retirement Plans. As described more fully in Note 2,
the investment options available to participants
were changed in connection with a Plan amendment
effective January 1, 1996. Participants may change
the funds chosen on a quarterly basis. No assurance
of actual fund performance can be given. Employer
contributions to the Plan are non-participant
directed and are held in the Gottschalks Inc. Common
Stock Fund. Fund options available to Plan
participants during the eleven month period ended
December 31, 1995 and the year ended January 31,
1995 were as follows:
Gottschalks Inc. Common Stock Fund - Funds
were invested in common stock of Gottschalks
Inc.
Asset Allocation Fund - Funds were invested in
common stocks, U.S. Treasury long bonds and
money market instruments.
Income Accumulation Fund - Funds were invested
in a variety of fixed-income securities.
S&P 500 Stock Fund - Funds were invested in
common stocks comprising the S&P 500 Index.
Growth Stock Fund - Funds were invested
primarily in common stock of growth companies.
S&P MidCap Stock Fund - Funds were invested in
common stocks comprising the S&P MidCap 400
Index.
g. Payment of Benefits - On termination of service,
death, permanent disability or normal retirement,
the participant shall receive a lump-sum
distribution equal to the vested value of the
participant's account. Distributions of terminated
participant account balances are made in the form of
Company common stock, cash or a combination of both.
Payments are recorded when made.
h. Administrative Expenses - The funds are charged an
annual management fee by the Trustee. Such fees
ranged from .28 to .75 of 1% of net assets available
for benefits during the eleven month period ended
December 31, 1995 and the year ended January 31,
1995.
i. Plan Termination - Although it has not expressed any
intent to do so, the Company has the right under the
Plan to discontinue its contributions at any time
and to terminate the Plan subject to the provisions
of ERISA. In the event of plan termination,
participants will become 100 percent vested in their
accounts.
2. TRANSFER OF PLAN ASSETS AND PLAN AMENDMENT
Effective December 29, 1995, the Plan Sponsor initiated
the transfer of Plan assets from the custody of Wells
Fargo Bank to the Charles Schwab Trust Company ("Schwab"),
the new Trustee of the Plan. Schwab reported receipt of
the funds as of January 1, 1996, the next business day.
Plan assets are reported in the accompanying financial
statements as of December 31, 1995, still in the custody
of Wells Fargo Bank on that date. Effective January 1,
1996, the administrator of the Plan was changed to Western
Pension Service Corporation. In addition, certain
provisions of the Plan were also amended including, but
are not limited to, the following:
a. The Plan year-end was changed from January 31 to
December 31 of each year, beginning with the period
ended December 31, 1995;
b. The maximum annual voluntary employee contribution
rate was increased from 10% to 15% of eligible
compensation, subject to certain limitations
prescribed by the Internal Revenue Service;
c. The various investment options available to
participants were changed to provide participants
with options that more closely match investment risk
with a participants' lifestyle. The six investment
options that are available to participants beginning
January 1, 1996 include the following: (1) the Money
Market Fund; (2) the Lifestyle
Defensive Portfolio; (3) the Lifestyle Conservative
Portfolio; (4) the Lifestyle Moderate Portfolio; (5) the Lifestyle
Aggressive Portfolio and(6) the Gottschalks Inc. Common Stock Fund (the
common stock of the Company); and
d. The minimum loan amount that participants may borrow
against the vested portion of their account balances
was increased to $500.
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
The significant accounting policies of the Plan are as
follows:
a. Basis of Accounting - The financial statements of
the Plan are prepared in accordance with generally
accepted accounting principles using the accrual
basis of accounting.
b. Use of Estimates - The preparation of the financial
statements in conformity with generally accepted
accounting principles requires the Plan sponsor to
make estimates and assumptions that effect the
reported amounts of assets and liabilities as of the
date of the financial statements and the reported
amounts of revenues and expenses during the reported
periods. Such estimates and assumptions are subject
to inherent uncertainties which may result in actual
results differing from reported amounts.
c. Investments - Investments of the Plan at December
31, 1995 (see Note 2) and January 31, 1995, are held
and managed by the Plan's Trustee and are combined
in collective investment funds with investments of
unrelated plans.
Investments other than loans to participants are
stated at fair value as determined by the Plan's
Trustee based on quoted market prices. Loans to
participants are stated at cost which approximates
their fair value. Investment transactions are
recorded as of the trade date. The cost of investments
sold is computed on an average cost basis.
d. Administrative Expenses - Certain administrative
functions of the Plan are performed by officers or
employees of the Company. No officer or employee
receives compensation from the Plan for such functions
performed. In addition, other than participant
recordkeeping administration fees, all other
administrative expenses of the Plan, including trustee
fees, are paid directly by the Company.
4. TAX STATUS
On September 28, 1995, the Internal Revenue Service
determined that the Plan is qualified under Sections 401(a)
and 501(a) of the Internal Revenue Code and that the trust
established under the Plan is tax-exempt. Accordingly, no
provision for taxes has been made in the accompanying
financial statements.
During the eleven month period ended December 31, 1995 and
the year ended January 31, 1995, certain employees of the
Company that participate in the Plan made elective
contributions to the Plan in excess of annual limitations
prescribed by the Internal Revenue Code. Excess contributions
made by these participants, totaling $17,789 and $1,890 at
December 31, 1995 and January 31, 1995, respectively, are
reflected as
refundable contributions payable to participants in the
accompanying statements of net assets available for benefits.
The Plan refunded such excess contributions made for those
plan years to the respective participants within the
prescribed time period.
5. RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500
The following is a reconciliation of net assets available for
benefits per the financial statements to the Form 5500:
<TABLE>
<CAPTION>
December 31, January 31,
1995 1995
Net assets available for
benefits per the
<S> <C> <C>
financial statements $8,778,340 $7,659,974
Amounts allocated to
withdrawing participants 280,068 217,000
Net assets available for
benefits per the Form 5500 $8,498,272 $7,442,974
</TABLE>
The following is a reconciliation of benefits paid to
participants per the financial statements to the Form
5500:
<TABLE>
<CAPTION>
Eleven Month
Period Ended
December 31,
1995
Benefits paid to participants
<S> <C>
per the financial statements $751,975
Add: Amounts allocated to
withdrawing participants
at December 31, 1995 280,068
Less: Amounts allocated to
withdrawing participants
at January 31, 1995 (217,000)
Benefits paid to participants
per the Form 5500 $815,043
</TABLE>
Amounts allocated to withdrawing
participants are recorded on the Form 5500 for
benefit claims that have been processed and approved for
payment prior to December 31, 1995 but not yet paid as of
that date.
******
GOTTSCHALKS INC. RETIREMENT SAVINGS PLAN AND TRUST - SCHEDULE I
ITEM 27a - SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES
DECEMBER 31, 1995
<TABLE>
<CAPTION>
Description Fair
Identity of Issue Of Investment Units Cost Value
<S> <S> <C> <C> <C>
Wells Fargo Bank Gottschalks Inc. 590,730.03 $2,957,058 $2,149,556
Investment Funds Common Stock Fund
for Retirement
Plans
Wells Fargo Bank Asset Allocation 135,246.47 2,130,076 2,601,339
Investment Funds Fund
for Retirement
Plans
Wells Fargo Bank Income Accumulation 109,917.90 1,365,257 1,364,727
Investment Funds Fund
for Retirement
Plans
Wells Fargo Bank S&P 500 Stock Fund 39,062.20 693,183 881,403
Investment Funds
for Retirement
Plans
Wells Fargo Bank Growth Stock Fund 22,285.62 309,341 384,380
Investment Funds
for Retirement
Plans
Wells Fargo Bank S&P MidCap Stock 19,767.25 247,649 300,992
Investment Funds Fund
for Retirement
Plans
Loans to Interest at rates 413 649,304 649,304
Participants ranging from 6.1% to
10.5%
$8,351,868 $8,331,701
</TABLE>
GOTTSCHALKS INC. RETIREMENT SAVINGS PLAN AND TRUST - SCHEDULE II
ITEM 27d - SCHEDULE OF REPORTABLE (5%) TRANSACTIONS
YEAR ENDED DECEMBER 31, 1995
Category (iii) - Series of Transactions when aggregated involving an amount
in excess of 5 Percent of the Current Value of Plan Assets
<TABLE>
<CAPTION>
Identity of
Party Involved Purchase/
& Description Number of Selling Net Gain
of Assets (Units) Transactions Price Cost (Loss)
Purchases of Wells Fargo
Bank Investment Funds
for Retirement Plans:
Gottschalks Inc.
<S> <C> <C>
Common Stock Fund 43 $550,734
Asset Allocation Fund 61 546,534
Income Accumulation Fund 57 392,786
Sales of Wells Fargo
Bank Investment Funds
for Retirement Plans:
Gottschalks Inc.
Common Stock Fund 133 $392,397 $614,289 $(221,892)
Asset Allocation Fund 101 292,386 234,257 58,129
Income Accumulation Fund 88 228,795 228,795
</TABLE>
There were no Category (i), (ii) or (iv) reportable transactions
during the year ended December 31, 1995. Commissions and fees for
purchases and sales of investments are included in the cost of the
investment or the proceeds from the sale and are not separately
identified.
********
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the trustees (or other persons who administer the employee
benefit plan) have duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
Gottschalks Inc. Retirement Savings Plan and Trust
(Name of Plan)
June 29, 1996
\s\ Alan A. Weinstein
Alan A. Weinstein, Trustee
Senior Vice President and
Chief Financial Officer of
Gottschalks Inc., Plan Sponsor
