<PAGE>   1
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-K

       For Annual and Transition Reports Pursuant to Sections 13 or 15(d)
                     of the Securities Exchange Act of 1934

(MARK ONE)
[X]   ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
      EXCHANGE ACT OF 1934
      FOR THE FISCAL YEAR ENDED JANUARY 29, 2000

                                       or

[ ]   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
      EXCHANGE ACT OF 1934

      FOR THE TRANSITION PERIOD FROM _______ TO _______

                         COMMISSION FILE NUMBER 0-26732

                                 GADZOOKS, INC.
             (Exact name of registrant as specified in its charter)

            TEXAS                                             74-2261048
(State or other jurisdiction of                          (I.R.S. Employer
incorporation or organization)                           Identification No.)


4121 INTERNATIONAL PARKWAY
CARROLLTON, TEXAS                                            75007
(Address of principal executive offices)                   (Zip Code)

               REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE:
                                 (972) 307-5555

Securities Registered Pursuant to Section 12(b) of the Act:  NONE

Securities Registered Pursuant to Section 12(g) of the Act:

                               TITLE OF EACH CLASS
                         ------------------------------
                          Common Stock, $0.01 par value

     Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days. Yes X  No
                                             ---   ---

     Indicate by check mark if disclosure of delinquent filers pursuant to item
405 of Regulation S-K is not contained herein, and will not be contained, to the
best of registrant's knowledge, in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-K or any amendment to this
Form 10-K.
          -----

     The aggregate market value of Common Stock held by non-affiliates of the
registrant on April 19, 2000 was approximately $185,892,359. All outstanding
shares of voting stock, except for shares held by executive officers and members
of the Board of Directors and their affiliates, are deemed to be held by
non-affiliates.

     On April 19, 2000, the registrant had 8,931,765 shares of Common Stock
outstanding.

                       DOCUMENTS INCORPORATED BY REFERENCE

     Part II incorporates information by reference from the registrant's Annual
Report to Shareholders for the fiscal year ended January 29, 2000, filed
herewith as Exhibit 13.

     Part III incorporates information by reference from the definitive Proxy
Statement for the 2000 Annual Meeting of Shareholders, to be filed with the
Commission no later than 120 days after the end of the registrant's fiscal year
covered by this Form 10-K.


<PAGE>   2


                                     PART I

ITEM 1.  BUSINESS.

     Gadzooks, Inc. (the "Company" or "Gadzooks") 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. At the end of fiscal 1999, the
Company operated 326 stores in both metropolitan and middle markets in 33
states. The Company opened 19 new stores and closed five stores during fiscal
1999. In addition, the Company plans to open approximately 50 new stores in
fiscal 2000, three of which were opened as of April 12, 2000.

     Management believes that current demographic trends provide the Company
with the opportunity to continue its store expansion program. According to the
U.S. Census Bureau, there are over 31 million teenagers in the United States
today and the number is expected to grow to approximately 34 million by the year
2005. Management believes that teenagers represent both a growing part of the
U.S. population and an increasing source of purchasing power.

     The Company was incorporated in Texas in 1982, its executive offices are
located at 4121 International Parkway, Carrollton, Texas 75007 and its telephone
number is (972) 307-5555.

BUSINESS STRATEGY

     The Company is a leading retailer of brand name casual apparel and related
accessories for teenagers. The principal elements of the Company's business
strategy are:

     o Focus on the Male and Female Teenage Customer. The Gadzooks concept
     focuses on providing fashionable casual apparel and accessories to both
     male and female teenage customers. By offering merchandise for both sexes,
     Gadzooks believes that it serves a broader customer base than some of its
     specialty store competitors, thereby reducing the potential fashion risk of
     concentrating on one gender exclusively. Furthermore, Gadzooks believes
     that it attracts additional customers by creating a shopping environment
     where it is comfortable for both males and females to shop with friends, as
     well as on their own.

     o Multiple Merchandise Categories. A key component of the Company's
     merchandising strategy is to reduce its dependence on any one fashion,
     style, brand or item by offering products in a broad range of categories.
     Each Gadzooks store carries approximately 1,600 stock-keeping units or
     "SKUs" (excluding different sizes of the same item), including woven and
     knit tops, jeans, shorts, junior dresses, swimwear, t-shirts, footwear,
     sunglasses, watches, jewelry and other accessory items. The Company
     regularly monitors store sales by classification, style and size to
     identify emerging fashion trends, and manages the product mix in its stores
     to respond to the spending patterns of its customers. The Company believes
     that its success to date has been largely attributable to its ability to
     meet the changing fashion preferences of its customers.

     o Emphasis on Brand Name Merchandise. Another key feature of the Company's
     merchandising strategy is to offer a wide variety of popular brand name
     merchandise based on its belief that its customers shop primarily for
     recognized labels and designs. The Company's merchandise includes high
     visibility names such as ECKO, DKNY Jeans, Hurley, Tommy Jeans, Billabong
     and other popular fashions and brand name merchandise. The Company
     concentrates on merchandise that appeals to the mainstream teenager, rather
     than relying on "cutting edge" products. The Company believes that this
     strategy is consistent with its philosophy of responding to its customers'
     fashion preferences as opposed to attempting to establish fashion trends.


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<PAGE>   3


     o Metropolitan and Middle Market Locations. A central aspect of the
     Company's strategy has been the development of a store concept that is
     successful in both metropolitan and middle markets. The Company believes
     that teenagers throughout the United States frequently have similar fashion
     preferences as a result of the influence of television programs, MTV, and
     music and fashion magazines. As a result, the Company has been able to
     operate stores successfully across a broad range of demographic and
     geographic markets, increasing the number of potential sites available to
     the Company.

     o Attentive Customer Service. The Company is committed to offering
     professional and attentive customer service. Gadzooks hires young,
     energetic, service-oriented sales associates who understand teenagers and
     can relate to their changing needs and preferences. The Company strives to
     give its teenage customers the same level of respect and attention that is
     generally given to adult customers at other retail stores. The Company
     trains sales associates to greet each customer personally, to inform the
     customer about new fashion trends and to suggest merchandise to suit the
     customer's wardrobe and lifestyle needs. The Company believes that the high
     level of service given to its teenage customers differentiates Gadzooks
     from its competition.

     o Entertaining Store Environment. The Company believes that its stores are
     visually appealing and provide a fun and enjoyable shopping experience for
     its customers. Gadzooks stores are designed to create a high energy, fun
     environment using neon lighting, television monitors featuring popular
     music videos, playful mannequins and creative, eye-catching signage. The
     Company's signature Volkswagen Beetle is a feature attraction in the
     stores. The Company believes that its entertaining store design encourages
     customers to visit the stores more frequently and to shop in the stores for
     longer periods of time. While Gadzooks stores are designed to appeal
     primarily to the teenage customer, the Company also strives to create a
     shopping environment that is comfortable for adults.

     o Investment in Systems and Personnel. The Company is committed to
     investing in information systems and using current technology to help
     execute its merchandising strategy. The Company's systems provide its
     buyers and merchandise planners with daily sales and inventory information
     by store, style and size, allowing Gadzooks to respond to changing customer
     preferences and to stock the appropriate quantities and styles of
     merchandise at each store. The Company is also committed to attracting and
     retaining highly-qualified, service-oriented management and sales
     associates and providing them with career advancement opportunities. The
     corporate culture at Gadzooks promotes the open exchange of new ideas and
     information between all levels of the Company, thereby enabling management
     to supplement the data from its information systems with the practical
     experience of its employees.

     o Distribution Capabilities. The Company's 207,000 square-foot facility in
     the Dallas area can support the merchandising needs of about 500 stores,
     providing for the Company's continued store expansion for the next few
     years. The Company believes the distribution center is a critical element
     in its future growth plans.


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STORE LOCATIONS

     As of April 12, 2000, the Company operated 328 stores in 34 states. The
Company's existing stores are located in metropolitan markets such as Dallas,
Chicago, Atlanta, Boston and Kansas City, as well as middle markets such as
Amarillo, Texas; Tupelo, Mississippi; and Roanoke, Virginia. The following store
list shows the number of stores that Gadzooks operates in each state and the
cities in which Gadzooks stores are located.

<TABLE>
<S>                      <C>                  <C>                    <C>                    <C>
         ALABAMA                    KANSAS                MISSOURI                OKLAHOMA                TEXAS - CONT.
         -------                    ------                --------                --------                -------------
        Huntsville                   Hays                 Columbia                  Enid                   Port Arthur
          Mobile                  Hutchinson           Jefferson City              Lawton                  San Angelo
        Montgomery                Manhattan                Joplin                  Norman                San Antonio (4)
         ARKANSAS                   Salina             Kansas City (3)        Oklahoma City (4)              Sherman
         --------                   Topeka               Springfield               Shawnee                   Temple
       Fayetteville              Wichita (2)            St. Louis (3)             Tulsa (2)                 Texarkana
        Fort Smith                 KENTUCKY               NEBRASKA              PENNSYLVANIA                  Tyler
        Jonesboro                  --------               --------                --------                  Victoria
     Little Rock (2)               Ashland              Grand Island               Altoona                    Waco
         COLORADO               Bowling Green              Lincoln                  Erie                  Wichita Falls
         --------               Elizabethtown             Omaha (2)              Harrisburg                 VIRGINIA
          Denver             Florence/Cincinnati        NEW HAMPSHIRE             Johnstown                 --------
         FLORIDA                  Owensboro             -------------             Lancaster              Charlottesville
         -------                  Lexington              Manchester             Philadelphia               Chesapeake
      Daytona Beach             Louisville (2)              Salem                Pittsburgh              Christiansburg
        Fort Myers                  Paducah              NEW JERSEY               Scranton                  Danville
    Fort Walton Beach            LOUISIANA               ----------             State College            Fredericksburg
       Gainesville               ---------                 Freehold             RHODE ISLAND              Harrisonburg
       Jacksonville                Alexandria            Livingston             ------------              Newport News
        Orlando (3)             Baton Rouge (2)          Mays Landing            Providence                  Norfolk
       Panama City                  Houma            Depford/Philadelphia      SOUTH CAROLINA                Roanoke
        Pensacola                 Lafayette               Rockaway             --------------            Virginia Beach
         Sarasota                Lake Charles               Wayne              Charleston (2)          Washington D.C (3)
       Tallahassee                  Monroe               NEW MEXICO             Columbia (2)               Winchester
        Tampa (3)              New Orleans (3)           ----------              Greenville               WEST VIRGINIA
         GEORGIA               Shreveport/Bossier      Albuquerque (2)          Myrtle Beach              -------------
         -------                     City(2)             Las Cruces              Spartanburg               Bridgeport
          Athens                   MARYLAND               Santa Fe              SOUTH DAKOTA               Charleston
       Atlanta (8)                 --------               NEW YORK              ------------               Huntington
         Augusta                Baltimore (2)             --------               Sioux Falls               Morgantown
          Macon                   Frederick              Albany (2)               TENNESSEE                Parkersburg
         ILLINOIS               MASSACHUSETTS           Rochester (3)             ---------                 WISCONSIN
         --------               -------------           Syracuse (2)             Chattanooga                ---------
       Bloomington                Boston (5)           NORTH CAROLINA            Clarksville                Appleton
        Carbondale                 MICHIGAN            --------------              Jackson                 Eau Claire
        Champaign                  --------                 Cary                Johnson City                Green Bay
       Chicago (13)               Ann Arbor             Charlotte (2)             Kingsport                Madison (2)
Fairview Heights/St. Louis       Battle Creek              Concord              Knoxville (2)             Milwaukee (3)
          Moline                 Detroit (5)            Fayetteville             Memphis (3)                 Wausau
          Peoria                    Flint                Greensboro             Nashville (3)
         Rockford              Grand Rapids (2)            Hickory                  TEXAS
       Springfield                 Holland               High Point                 -----
         INDIANA                   Jackson           Raleigh-Durham (2)            Abilene
         -------                   Lansing              Winston-Salem             Amarillo
         Elkhart                    Monroe                  OHIO                 Austin (2)
        Evansville                Port Huron                ----                  Beaumont
        Fort Wayne                 Portage                  Akron              College Station
       Indianapolis                Saginaw             Cincinnati (2)          Corpus Christi
        Lafayette               Traverse City           Cleveland (4)       Dallas/Fort Worth (9)
       Merrillville               MINNESOTA               Columbus                 Denton
          Muncie                  ---------              Dayton (2)              El Paso (3)
        South Bend                 Mankato                 Findlay                Harlingen
       Terre Haute             Minneapolis/St.              Heath               Houston (12)
           IOWA                    Paul (3)               Lancaster                Killeen
           ----                   St. Cloud                 Lima                   Laredo
     Cedar Rapids (2)            MISSISSIPPI              Mansfield               Longview
      Council Bluffs             -----------          New Philadelphia             Lubbock
        Davenport                   Biloxi             St. Clairsville             McAllen
      Des Moines (3)             Hattiesburg              Sandusky           Midland/Odessa (2)
         Dubuque                   Jackson                Toledo
        Fort Dodge                 Meridian          Youngstown/Niles (2)
        Iowa City                   Tupelo                Zanesville
        Sioux City
</TABLE>


                                       4
<PAGE>   5


EXPANSION STRATEGY

     The following table provides a history of the Company's store expansion
program over the past five fiscal years.

<TABLE>
<CAPTION>
                                                                                Fiscal Year
                                                          1999        1998       1997       1996      1995
                                                          ----        ----       ----       ----      ----
<S>                                                     <C>         <C>        <C>        <C>        <C>
Number of stores open at beginning of period               312         250        183        126        90
Number of new stores opened                                 19          63         67         57        39
Number of stores closed                                      5           1         --         --         3
                                                          ----        ----       ----       ----      ----
Number of stores open at end of period                     326         312        250        183       126
                                                          ====        ====       ====       ====      ====
</TABLE>

     The Company's expansion strategy is to continue to open stores in enclosed
shopping malls in both metropolitan and middle markets. The Company expects to
open approximately 50 new stores during fiscal 2000, three of which have been
opened as of April 12, 2000. The Company believes that the broad appeal of the
Gadzooks concept enables it to operate successfully in diverse geographic and
demographic markets, thereby increasing the total number of potential sites
available to the Company.

     The Company selects locations for new store openings to achieve a balance
between (i) test markets where the Company has had no previous operating
experience, (ii) new markets where the Company has tested a Gadzooks store and
believes that the Company can successfully expand, and (iii) mature markets
where the Company desires to add new stores at attractive locations as they
become available. Currently, the Company expects to open the highest number of
stores in new and mature markets where the Company's concept has recently been
introduced and where the Company believes that it can capitalize on the
potential of these markets. The Company typically expands from existing markets
into contiguous new markets and attempts to cluster its stores within a market
area in order to achieve management and operating efficiencies and to enhance
its name recognition. In addition, the Company analyzes stores for potential
closing from time to time and closed five under performing stores during fiscal
1999.

     The Company has from time to time analyzed potential acquisitions of small
chains of stores that serve its target customer in order to provide the Company
with more rapid access to desirable locations and new markets. The Company may
consider such acquisitions again in the future. Except for a limited number of
stores acquired from former franchisees, the Company has never made any such
acquisitions and does not currently have agreements in place for any in the
future.


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<PAGE>   6


MERCHANDISING

     The Company's merchandising strategy is to provide a wide range of brand
name casual apparel and related accessories that reflect the fashion preferences
of young men and women principally between the ages of 14 and 18. Each store
typically carries an inventory of approximately 1,600 SKUs, with most
merchandise selling at prices ranging between $15 and $50.

     The Company's merchandise includes high visibility names such as ECKO, DKNY
Jeans, Hurley, Tommy Jeans, Billabong and other popular fashions and brand name
merchandise. The Company concentrates on merchandise that appeals to the
mainstream teenager rather than relying on "cutting edge" products. The Company
believes that this strategy is consistent with its philosophy of responding to
its customers' fashion preferences as opposed to attempting to establish fashion
trends.

     The Company classifies all of its merchandise into one of five categories
as follows:

         o Juniors:                 The Juniors category includes casual
                                    sportswear separates designed for
                                    fashion-current teenage girls, such as knit
                                    tops, woven shirts and vests, denim, dresses
                                    and swimwear. Key brands in this category
                                    include DKNY, Tommy, Guess, ECKO, MUDD, and
                                    Mossimo.
         o Young Mens:              The Young Mens category includes casual
                                    sportswear separates reflecting current
                                    fashion trends, such as woven and knit tops
                                    and bottoms made of denim and other fabrics.
                                    Key brands in this category include ECKO,
                                    Fox, Billabong, Hurley, Tommy and Guess.
         o Accessories:             The Accessories category includes a variety
                                    of male, female and unisex accessories
                                    including sunglasses, watches, wallets, hair
                                    accessories, backpacks, necklaces, hats and
                                    other accessories. Key brands in this
                                    category include Fossil, Puma, and Fox.
         o Unisex Apparel:          The Unisex category consists primarily of
                                    t-shirts with logos containing current
                                    topics and humorous designs and phrases.
                                    This category includes merchandise from
                                    various vendors, as well as a small
                                    selection of Company-designed products.
         o Footwear:                The Company offers a limited selection of
                                    male, female and unisex footwear including
                                    sandals and active footwear. Key brands in
                                    this category include Vans, Bongo and
                                    Skechers.

     The following table sets forth the Company's merchandise by category as an
approximate percentage of net sales:

<TABLE>
<CAPTION>
                                                                                        Fiscal Year
                                                                                   1999    1998    1997
                                                                                   ----    ----    ----
<S>                                                                               <C>     <C>     <C>
         Juniors..........................................................          34%     32%     29%

         Young Mens.......................................................          30      29      26

         Accessories .....................................................          16      17      17

         Unisex Apparel ..................................................          11      12      17

         Footwear ........................................................           9      10      11
                                                                                   ---     ---     ---
         .................................................................         100%    100%    100%
                                                                                   ===     ===     ===
</TABLE>


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<PAGE>   7


     By offering products in multiple categories, the Company is able to shift
its merchandise emphasis among and within its core categories to respond to
changing customer preferences. The Company expects to continue to adjust its
emphasis in particular categories in response to changing fashion trends and,
therefore, its merchandise mix may vary slightly from time to time.

     In an effort to keep the stores fresh and exciting, the Company's visual
merchandising department, in conjunction with the marketing and buying staff,
provides specific floor sets and merchandising ideas to the stores and regularly
instructs district and store managers on the creative display of merchandise.
The merchandise presentation in the stores is significantly changed three times
each year to highlight specific merchandise for each of the Company's three peak
selling seasons and to maintain a current look. In addition, the Company
maintains a constant flow of new merchandise to the stores through shipments
from its distribution center on a daily basis to encourage our customers to
frequently visit our stores. To reduce the risk associated with the introduction
of new products, the Company tests certain products in selected stores before
determining if it will purchase the product for a broader group of stores.

PURCHASING

     The Company's purchasing staff consists of a General Merchandising Manager,
buyers, associate buyers and assistant buyers. The General Merchandising Manager
and the buyers analyze current fashion directions by visiting major fashion
markets and maintaining close relationships with the Company's vendors in order
to identify styles and trends. In addition, the Company's buyers attend concerts
and other events attended by teenagers. The General Merchandising Manager and
the buyers regularly monitor merchandise flow through the stores and strive to
maintain the appropriate merchandise mix to meet customer demand.

     Due to changes in fashion trends and seasonality, the Company purchases
merchandise from numerous vendors throughout the year. During fiscal 1999, the
Company did business with approximately 750 vendors. No single vendor accounted
for more than 10% of merchandise purchases. Certain of the Company's vendors
have limited financial resources and production capabilities. Gadzooks believes
that strong vendor relationships are important to the growth and success of the
Company.

ALLOCATION AND DISTRIBUTION OF MERCHANDISE

     The Company continually strives to improve its merchandising, distribution,
planning and allocation methods to manage its inventory more productively. The
Company's planning and allocation staff work closely with the buyers to meet the
requirements of determining the correct inventory levels for all stores and
merchandise categories. The Company divides its stores into different categories
based upon, among other things, geographic location, demographics, sales volume,
competition and store capacity. Merchandise allocation and distribution are
based in part on sales and inventory analysis of the stores by category.
Information from the Company's point-of-sale computer system is regularly
reviewed and analyzed to assist in making merchandise allocation and markdown
decisions.

     In May 1997, the Company relocated its headquarters to a 207,000 square
foot site in the Dallas metropolitan area, which includes a distribution
facility and the Company's corporate offices. Vendors deliver merchandise to
this facility, where it is inspected, entered into the Company's computer
system, ticketed (to the extent that it was not pre-ticketed by the vendor),
allocated to stores and boxed for distribution to the Company's stores.
Merchandise is typically shipped to stores daily via United Parcel Service,
providing Gadzooks stores with a steady flow of new merchandise. For certain key
products, the Company maintains a backstock at its distribution center that is
allocated and distributed to the stores through an automated replenishment
system.


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<PAGE>   8


STORE OPERATIONS

     Gadzooks stores are open seven days a week during normal mall hours. The
Company's store operations are managed by a Senior Vice President of Store
Operations, Director of Store Operations, regional managers and district
managers, who generally have responsibility for 7 to 10 stores within a
geographic district. Individual stores are managed by a store manager and two
assistant store managers. A typical store has 6 to 12 part-time sales
associates, depending on the season. Gadzooks compensates its district and store
managers with a base salary and performance bonuses, based on store sales and
other operating statistics. In addition, stock options are granted to district
managers and above at the time they assume their position, with additional
grants each year thereafter. Sales associates are compensated on an hourly
basis.

     The Company believes that its continued success is dependent in part on its
ability to attract, retain and motivate quality employees. In particular, the
success of the Company's store expansion program will be dependent on its
ability to promote and/or recruit qualified district and store management. The
Company has an established training program for future district managers. Store
managers, many of whom are selected from among the Company's assistant managers,
currently complete a one-week training program with a designated training store
manager before taking responsibility for a store. The hiring and training of new
sales associates are the responsibility of store managers and the Company has
established training and operations manuals to assist them in this process. The
Company regularly enhances its training programs for its store managers,
assistant managers and sales associates.

     Management considers its employees' knowledge of the Company's customers
and merchandise to be significant to its marketing approach and customer
satisfaction. While all Gadzooks store employees are responsible for the general
appearance of the store and merchandise presentation, the Company's major
emphasis in training its store employees is to give priority to customer service
and assistance. Sales associates regularly act as greeters, meeting customers as
they enter the store and offering assistance. The Company trains its sales
associates to inform the customer about new fashion trends and to suggest
merchandise that suits the customer's wardrobe and lifestyle needs. The Company
monitors the customer service level at each store through various programs,
including unannounced visits to the stores by store operations personnel and by
regularly reviewing and responding to customer feedback.

STORE ENVIRONMENT

     The Company believes that its stores are visually appealing and provide a
fun and enjoyable shopping experience for its customers. Gadzooks stores are
designed to create a high energy, upbeat environment using neon signs, video
monitors featuring popular music videos, playful mannequins and creative,
eye-catching signage. A standard feature in all stores is the Company's
signature Volkswagen Beetle. The Company typically displays a significant amount
of merchandise on the walls of the store, with male merchandise along one side,
and female merchandise along the other. In the center of the store, lower
fixtures are used to display merchandise in order to maintain an open feeling.
Stores typically feature large windows along the mall which provide an open view
of the entire store to mall traffic and are merchandised to draw customers into
the store. While Gadzooks stores are designed to appeal primarily to the teenage
customer, the Company also strives to create a shopping environment that is
comfortable for adults.

SITE SELECTION

     Based on its results to date in both metropolitan and middle markets, the
Company believes that it can operate successfully in markets with a broad range
of geographic and demographic profiles. The Company takes into account certain
demographic factors such as population density, concentration of teenagers,
income levels, lifestyle characteristics and the performance of other retailers
to identify attractive new markets, evaluate specific shopping malls and project
individual store sales volumes.


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<PAGE>   9


     Within each shopping mall, the Company typically seeks a highly visible
location and often locates its stores near major fashion-oriented department
stores, food courts and other specialty stores catering to teenage customers.
The Company's existing stores average approximately 2,400 square feet. The
Company typically seeks a location of approximately 2,400 to 3,100 square feet
with significant mall frontage. However, the Company's flexible store design
enables it to take advantage of well-situated sites with more unique layouts.
Once a site is approved, the Company, with the assistance of an outside
architect, designs the store to meet the specific site characteristics. The
Company's construction department seeks competitive bids from outside
contractors for the build-out of each store and oversees the construction
process. The Company typically requires six to eight weeks to open a new store
after construction begins.

MANAGEMENT INFORMATION SYSTEMS

     Each Gadzooks store is linked to the Company's headquarters through a
point-of-sale system that interfaces with an IBM RS6000 computer equipped with
an integrated merchandising, distribution and accounting software package. The
Company's point-of-sale computer system has several features, including
merchandise scanning, "price look-up," updated sales reports and on-line credit
card approval. These features improve transaction accuracy, speed and checkout
time, increase overall store efficiency, and enable the Company to track the
productivity of individual sales associates.

     The Company's management information and control systems enable the
Company's corporate headquarters personnel to promptly identify sales trends,
replenish depleted store inventories, reprice merchandise and monitor
merchandise mix and inventory shrinkage at individual stores and throughout the
Company's store network. Management believes that these systems provide a number
of benefits, including improved store inventory management, better in-stock
availability, higher operating efficiency and fewer markdowns.

     The Company's merchandising, distribution and accounting software system
was installed in late 1993, and the point-of-sale software system was installed
during the second quarter of fiscal 1995. The Company believes that its current
management information and control systems are adequate to support the Company's
planned expansion, but regularly evaluates its systems to determine when
upgrades or replacements are needed. In 1999, the Company significantly upgraded
its information technology infrastructure network to support many ongoing
initiatives.

ADVERTISING AND PROMOTION

     The Company relies primarily on mall traffic, the enthusiasm of its sales
associates and existing customers, highly visible store locations and
eye-catching signage to attract new customers to the stores. The Company has
generally found this approach to be more cost effective than more traditional
media advertising. The Company plans the opening of new stores to coincide with
peak shopping seasons and mall grand openings when customer traffic is greater.
The Company also uses promotions to generate repeat visits to its stores and
advertises to a limited extent in national magazines, such as Seventeen and Teen
People, in cooperation with certain of its vendors. The Company also benefits
from advertising by its vendors, especially where Gadzooks is listed as a
retailer of their products.

TRADEMARKS

     The Company has registered on the Principal Register of the United States
Patent and Trademark Office "Gadzooks" (in various formats) and "Gaditude". Each
federal registration is renewable indefinitely if the mark is in use at the time
of the renewal. The Company is not aware of any claims of infringement or other
challenges to the Company's right to use its marks in the United States.


                                       9
<PAGE>   10


COMPETITION

     The teenage retail apparel and accessories industry is highly competitive.
The Company competes with other retailers for customers, suitable retail
locations and qualified management personnel. Gadzooks currently competes with
traditional department stores, with national specialty chains such as The Gap
and certain divisions of The Limited, with numerous other teen retailers such as
American Eagle Outfitters, The Buckle, Hot Topic, Pacific Sunwear and Wet Seal,
and with local specialty stores in certain markets, and to a lesser extent, with
mass merchandisers and companies providing shopping sites via the internet. Many
of the Company's competitors are larger and have substantially greater
financial, marketing and other resources than the Company. The principal factors
of competition in the Company's business are fashion, merchandise selection,
customer service, store location and price.

EMPLOYEES

     On March 31, 2000, the Company had 1,189 full-time employees and 2,835
part-time employees. Of the Company's 4,024 employees, 188 were corporate
personnel, 91 were distribution center employees and 3,745 were store employees.
The number of part-time employees fluctuates with seasonal needs. None of the
Company's employees is covered by a collective bargaining agreement. The Company
seeks to create a casual and supportive working environment and considers its
employee relations to be excellent.


                                       10
<PAGE>   11


                                  RISK FACTORS

     This Report contains certain forward looking statements about the business,
operations and financial condition of the Company. The actual results of the
Company could differ materially from those forward looking statements. The
following information sets forth certain factors that could cause the actual
results of the Company to differ materially from those contained in the forward
looking statements.

GROWTH STRATEGY; FUTURE OPERATING RESULTS

     The Company's net sales have grown significantly during the past several
years, primarily as a result of the opening of new stores and, to a lesser
extent, increases in comparable store sales. The Company intends to continue its
growth strategy by opening new stores for the foreseeable future, and its future
operating results will depend, to a certain degree, upon its ability to open and
operate new stores successfully and to manage a larger business profitably. The
Company anticipates opening approximately 50 new stores during fiscal 2000. In
the future, the Company plans to enter new markets in various regions of the
United States. Expansion into new markets may present competitive and
merchandising challenges that are different from those currently encountered by
the Company in its existing markets. As an additional part of its growth
strategy, the Company has occasionally analyzed the acquisition of other
retailers that serve the Company's target customers and may consider such
acquisitions again in the future. Except for a limited number of stores acquired
from former franchisees, the Company has never made any such acquisitions and
does not currently have agreements in place for any in the future. There can be
no assurance that the operations of any acquired entities could be successfully
integrated with the Company's existing operations or that the combined business
would be profitable.

     The Company is subject to a variety of business risks generally associated
with rapidly growing companies. The Company's ability to open new stores will
depend upon many factors, including, among others, the ability to identify and
enter new markets, locate suitable store sites, negotiate acceptable lease
terms, hire and train store managers and sales associates and obtain adequate
capital resources on acceptable terms. There can be no assurance that the
Company will be able to integrate successfully new stores into its operations or
that new stores will achieve sales and profitability levels comparable to the
Company's existing stores. In addition, there can be no assurance that the
Company's expansion within its existing markets will not adversely affect the
individual financial performance of the Company's existing stores or its overall
results of operations. Furthermore, the Company will need to continually
evaluate the adequacy of its store management and management information and
distribution systems to manage its planned expansion. There can be no assurance
that the Company will anticipate all of the changing demands that its expanding
operations will impose on such systems and facilities, and the failure to adapt
its systems, facilities and procedures could have a material adverse effect on
the Company's business. There can be no assurance that the Company will
successfully achieve its planned expansion or, if achieved, that the expansion
will result in profitable operations. See "Business -- Store Locations" and
"Business -- Expansion Strategy."

     The Company anticipates that it will spend approximately $10.7 million for
capital expenditures in fiscal 2000, which will include the opening
of approximately 50 new stores, remodeling of six to eight existing stores and
refurbishment of 50 existing stores. The actual costs that the Company will
incur in connection with opening new stores cannot be predicted with precision
because such costs will vary based upon, among other things, geographic
location, the size of the store and the extent of the build-out required at the
selected site. The Company believes that its existing cash balances, cash
generated from operations, and funds available under the Company's revolving
line of credit will be sufficient to fund its expansion requirements through at
least fiscal 2000. The Company cannot assure you that it will not be required to
seek additional sources of funds for such expansion.


                                       11
<PAGE>   12


FLUCTUATIONS IN COMPARABLE STORE SALES RESULTS

     A variety of factors affect the Company's comparable store sales results,
including economic conditions, fashion trends, the retail sales environment,
sourcing and distribution of products and the Company's ability to execute its
business strategy efficiently. The Company's quarterly comparable store sales
results have fluctuated significantly in the past. The Company's comparable
store sales results were (0.5%), (0.6%), (6.9%) and (10.9%) in the first,
second, third and fourth quarters of fiscal 1998, respectively, and (3.3%),
6.5%, 4.6% and 11.3% in the first, second, third and fourth quarters of fiscal
1999, respectively. The Company has recorded comparable store sales decreases in
past months, quarters and years, and cannot assure you that such decreases for
any particular month, quarter or fiscal year will not occur in the future. The
Company's comparable store sales results could cause the price of the Common
Stock to fluctuate substantially.

CHANGES IN FASHION TRENDS

     The Company's profitability is largely dependent upon its ability to
anticipate the fashion tastes of its customers and to provide merchandise that
appeals to their preferences in a timely manner. The fashion tastes of the
Company's customers may change frequently. The Company's failure to anticipate,
identify or react appropriately to changes in styles, trends or brand
preferences could lead to, among other things, excess inventories and higher
markdowns, which could have a material adverse effect on the Company's business.
In addition, fashion misjudgments could materially and adversely affect the
Company's operating results, comparable store sales results and image with its
customers. See "Business -- Merchandising."

IMPACT OF ECONOMIC CONDITIONS

     Certain economic conditions affect the level of consumer spending on
merchandise offered by the Company, including business conditions, interest
rates, taxation and consumer confidence in future economic conditions. If the
demand for apparel and related merchandise by teenagers declines, the Company's
business, comparable store sales results and results of operations would be
materially and adversely affected. Although the Company advertises in national
magazines to a limited extent through cooperative agreements with certain of its
vendors, its stores rely principally on mall traffic for customers. Therefore,
the Company is dependent upon the continued popularity of malls as a shopping
destination and the ability of mall anchor tenants and other attractions to
generate customer traffic for its stores. A decrease in mall traffic or a
decline in economic conditions in the markets in which the Company's stores are
located would adversely affect the Company's growth, net sales, comparable store
sales results and profitability. See "Business."

QUARTERLY RESULTS AND SEASONALITY

     The Company's quarterly results of operations may fluctuate materially
depending on, among other things, the timing of new store openings, net sales
contributed by new stores, increases or decreases in comparable store sales,
shifts in timing of certain holidays and changes in the Company's merchandise
mix. The Company's business is also subject to seasonal influences, with heavier
concentrations of sales during the Christmas holiday, back-to-school and spring
break seasons. As is the case with many apparel retailers, the Company's net
sales and net income are typically lower in the first quarter. The Company has
experienced quarterly losses in the past and may experience such losses in the
future. Because of these fluctuations in net sales and net income, the results
of operations of any quarter are not necessarily indicative of the results that
may be achieved for a full fiscal year or any future quarter.


                                       12
<PAGE>   13


DEPENDENCE ON KEY VENDORS

     The Company's business depends on its ability to purchase current season,
brand name apparel in sufficient quantities at competitive prices. The inability
or failure of key vendors to supply the Company with adequate quantities of
desired merchandise, the loss of one or more key vendors or a material change in
the Company's current purchase terms could have a material adverse effect on the
Company's business. Many of the Company's smaller vendors have limited
resources, production capacities and operating histories, and many have limited
the distribution of their merchandise in the past. The Company has no long-term
purchase contracts or other contractual assurances of continued supply, pricing
or access to new products. There can be no assurance that the Company will be
able to acquire desired merchandise in sufficient quantities on terms acceptable
to the Company in the future. During the Company's 1999 fiscal year, no single
vendor accounted for more than 10% of the Company's merchandise purchases. See
"Business -- Merchandising" and "Business -- Purchasing."

DEPENDENCE ON KEY PERSONNEL

     The Company's success will depend largely on the efforts and abilities of
senior management. The loss of the services of any member of senior management
could have a material adverse effect on the Company's business, financial
condition and results of operations. There can be no assurance that the
Company's existing management team will be able to manage the Company or its
growth or that the Company will be able to retain current and attract additional
qualified personnel as needed in the future.

COMPETITION

     The Company operates in a highly competitive environment. The Company
currently competes with traditional retail department stores, with national
specialty chains such as The Gap, The Buckle, Pacific Sunwear, Wet Seal, Hot
Topic and American Eagle Outfitters, with smaller chains and local specialty
stores, and to a lesser extent, with mass merchandisers and companies providing
shopping sites via the internet. Many of these competitors are larger and have
substantially greater resources than the Company. Direct competition with these
and other retailers may increase significantly in the future, which could
require the Company, among other things, to lower its prices and/or increase its
advertising expenses. Increased competition could have a material adverse effect
on the Company's operations and comparable store sales results. See "Business --
Competition."

STOCK PRICE VOLATILITY

     The market price of the Company's Common Stock has fluctuated substantially
since the Company's initial public offering in October 1995. The Company's
Common Stock is quoted on The Nasdaq Stock Market, which has experienced, and is
likely to experience in the future, significant price and volume fluctuations
which could adversely affect the market price of the Common Stock without regard
to the operating performance of the Company. In addition, the Company believes
that factors such as quarterly fluctuations in the financial results of the
Company, the Company's comparable store sales results, announcements by other
apparel retailers, the overall economy and the condition of the financial
markets could cause the price of the Common Stock to fluctuate substantially.

ANTI-TAKEOVER MATTERS

     The Company's Restated Articles and its Bylaws contain provisions that may
have the effect of delaying, deterring or preventing a takeover of the Company
that shareholders may consider to be in their best interests. The Company's
Restated Articles and Bylaws provide for a classified Board of Directors serving
staggered terms of three years, the prohibition of shareholder action by written
consent in certain circumstances and certain "fair price provisions."
Additionally, the Board of Directors has the authority to issue up to 1,000,000
shares of preferred stock having such rights, preferences and privileges as
designated by the Board of Directors without shareholder approval.


                                       13
<PAGE>   14


     The Company has adopted a Shareholder Rights Plan, which is intended to
deter an unfriendly takeover of the Company and to help ensure that current
shareholders receive fair value upon the sale of their stock to another party
seeking control of the Company. See "Notes to Financial Statements - Note 12
Shareholder Rights Plan," located on page 26 of the Registrant's 1999 Annual
Report to Shareholders, filed as Exhibit 13 to this Report. Such Notes to
Financial Statements are incorporated herein by reference.

ITEM 2.  PROPERTIES.

     All of the existing stores are leased by the Company, with lease terms
(excluding renewal option periods exercisable by the Company at escalating
rents) expiring between June 2000 and January 2011. The leases for most of the
existing stores are for terms of ten years and provide for contingent rent based
upon a percent of sales in excess of specified minimums.

     The Company's office and distribution center is located in Carrollton,
Texas under a lease that is scheduled to expire on May 1, 2007.

ITEM 3.  LEGAL PROCEEDINGS.

     In the ordinary course of its business, the Company is periodically a party
to lawsuits. The Company does not believe that any resulting liability from
existing legal proceedings, individually or in the aggregate, will have a
material adverse effect on its operations or financial condition.

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

     No matters were submitted to a vote of the Company's shareholders during
the fourth quarter of the fiscal year covered by this report.


                                     PART II

ITEM 5.  MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS.

     The information in response to Item 5 is contained in the section entitled
"Corporate Information - Share Price Data" located on the inside back cover of
the registrant's 1999 Annual Report to Shareholders, filed as Exhibit 13 to this
Report. Such Market for Registrant's Common Equity and Related Stockholder
Matters are incorporated herein by reference.

ITEM 6.  SELECTED FINANCIAL DATA.

     The selected financial and operating data in response to Item 6 is
contained in the section entitled "Selected Financial Data," located on page 9
of the registrant's 1999 Annual Report to Shareholders, filed as Exhibit 13 to
this Report. Such Selected Financial Data is incorporated herein by reference.

ITEM 7.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
OF OPERATIONS.

     The information in response to Item 7 is contained in the section entitled
"Management's Discussion and Analysis of Financial Condition and Results of
Operations," located on pages 10 to 13 of the registrant's 1999 Annual Report to
Shareholders, filed as Exhibit 13 to this Report. Such Management's Discussion
and Analysis of Financial Condition and Results of Operations are incorporated
herein by reference.


                                       14
<PAGE>   15


ITEM 7A.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

     The Company does not engage in trading market risk sensitive instruments
and does not purchase as investments, as hedges, or for purposes "other than
trading," instruments that are likely to expose the Company to market risk,
whether it be from interest rate, foreign currency exchange, commodity price or
equity price risk. The Company has issued no debt instruments, entered into no
forward or futures contracts, purchased no options and entered into no swaps.

     The Company's primary market risk exposure is that of interest rate risk. A
change in LIBOR or the Prime Rate as set by Wells Fargo Bank, would affect the
rate at which the Company could borrow funds under its credit facility.

ITEM 8.   FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA.

     The information in response to Item 8 is contained in the registrant's 1999
Annual Report to Shareholders, filed as Exhibit 13 to this Report. Such
information is incorporated herein by reference. A cross-reference for location
of the requested information is below.

<TABLE>
<CAPTION>
                                                                                            PAGE NUMBER(S) IN
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA                                                  ANNUAL REPORT*
-------------------------------------------                                                  --------------

<S>                                                                                         <C>
Unaudited Quarterly Financial Data..............................................................   12
Balance Sheets at January 29, 2000 and January 30, 1999.........................................   14
Statements of Income for the Years Ended January 29, 2000,
      January 30, 1999, and January 31, 1998....................................................   15
Statements of Stockholders' Equity for the Years Ended January 29, 2000,
      January 30, 1999, and January 31, 1998....................................................   16
Statements of Cash Flows for the Years Ended January 29, 2000,
      January 30, 1999, and January 31, 1998....................................................   17
Notes to Financial Statements................................................................... 18 - 26
Report of Independent Accountants...............................................................   27
Corporate Information...........................................................................Inside back cover
      ..........................................................................................of annual report
</TABLE>

*The indicated pages of the Company's 1999 Annual Report to Shareholders are
filed as Exhibit 13 to this Report. Such Exhibit is incorporated herein by
reference.

ITEM 9.   CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND
FINANCIAL DISCLOSURE.

     None.


                                    PART III

ITEM 10.  DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT.

     Information with respect to Item 10 is incorporated by reference from the
registrant's definitive Proxy Statement to be filed with the Commission not
later than 120 days after the end of the registrant's fiscal year.

ITEM 11.  EXECUTIVE COMPENSATION.

     Information with respect to Item 11 is incorporated by reference from the
registrant's definitive Proxy Statement to be filed with the Commission not
later than 120 days after the end of the registrant's fiscal year.


                                       15
<PAGE>   16


ITEM 12.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT.

     Information with respect to Item 12 is incorporated by reference from the
registrant's definitive Proxy Statement to be filed with the Commission not
later than 120 days after the end of the registrant's fiscal year.

ITEM 13.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

     Information with respect to Item 13 is incorporated by reference from the
registrant's definitive Proxy Statement to be filed with the Commission not
later than 120 days after the end of the registrant's fiscal year.


                                     PART IV

ITEM 14.  EXHIBITS, FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM 8-K

(a)  1.  The financial statements as cross-referenced in Item 8 of this
         Report, together with the report thereon of PricewaterhouseCoopers LLP
         dated March 6, 2000, appearing in the accompanying 1999 Annual Report
         to Shareholders are incorporated by reference in this Report. With the
         exception of the aforementioned information and information
         incorporated in Items 5, 6 and 7, the 1999 Annual Report to
         Shareholders is not deemed filed as part of this Report.

     2.  Financial statement schedules are omitted because they are not
         applicable or the required information is shown in the financial
         statements or notes thereto.

     3.  Exhibits included or incorporated herein:

         See Exhibit Index.

(b)  Reports on Form 8-K

     There were no reports on Form 8-K filed during the last quarter of the
fiscal year covered by this report.


                                       16
<PAGE>   17


     Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on
April 26, 2000 on its behalf by the undersigned, thereunto duly authorized.

                                      GADZOOKS, INC.



                                      By  /s/ Gerald R. Szczepanski
                                          -------------------------------------
                                             Gerald R. Szczepanski,
                                             Chairman of the Board, President,
                                             and Chief Executive Officer

         Each person whose signature appears below hereby authorizes Gerald R.
Szczepanski and James A. Motley, or either of them, as attorneys-in-fact to sign
on his behalf, individually, and in each capacity stated below and to file all
amendments and/or supplements to the Annual Report on Form 10-K.

         Pursuant to the requirements of the Securities Exchange Act of 1934,
this report has been signed below by the following persons on behalf of the
Registrant and in the capacities and on the dates indicated.



<TABLE>
<CAPTION>
                  Signature                                    Title                             Date
                  ---------                                    -----                             ----

<S>                                               <C>                                      <C>
/s/ Gerald R. Szczepanski                         Chairman of the Board, President,         April 26, 2000
-------------------------------------------       and Chief Executive Officer
    Gerald R. Szczepanski                         (Principal Executive Officer)


/s/ James A. Motley                               Vice President and                        April 26, 2000
-------------------------------------------       Chief Financial Officer, Secretary
    James A. Motley                               (Principal Financial and
                                                  Accounting Officer)

/s/ G. Michael Machens                            Director                                  April 26, 2000
-------------------------------------------
    G. Michael Machens


/s/ Robert E.M. Nourse                            Director                                  April 26, 2000
-------------------------------------------
    Robert E.M. Nourse

/s/ Ron G. Stegall                                Director                                  April 26, 2000
-------------------------------------------
    Ron G. Stegall

/s/ Lawrence H. Titus, Jr.                        Director                                  April 26, 2000
-------------------------------------------
    Lawrence H. Titus, Jr.
</TABLE>


                                       17
<PAGE>   18


                                INDEX TO EXHIBITS

<TABLE>
<CAPTION>
EXHIBIT
  NO.                         DESCRIPTION OF DOCUMENTS                          PAGE
-------                       ------------------------                          ----
<S>        <C>
  3.1 --   Second Restated Articles of Incorporation of the Company (filed
           as Exhibit 4.1 to the Company's Form S-8 (No. 33-98038) filed with
           the Commission on October 12, 1995 and incorporated herein by
           reference).

  3.2 --   Amended and Restated Bylaws of the Company (filed as Exhibit
           4.2 to the Company's Form S-8 (No. 33-98038) filed with the
           Commission on October 12, 1995 and incorporated herein by
           reference).

  3.3 --   First Amendment to the Amended and Restated Bylaws of the
           Company (filed as Exhibit 3.3 of the Company's Quarterly Report on
           Form 10-Q for the quarter ended August 2, 1997 filed with the
           Commission on September 16, 1997 and incorporated herein by
           reference).

  4.1 --   Specimen Certificate for shares of Common Stock, $.01 par value, of
           the Company (filed as Exhibit 4.1 to the Company's Amendment No. 2 to
           Form S-1 (No. 33-95090) filed with the Commission on September 8,
           1995 and incorporated herein by reference).

  4.2 --   Rights Agreement dated as of September 3, 1998 between the
           Company and ChaseMellon Shareholder Services, L.L.C. (filed as
           Exhibit 1 to the Company's Form 8-A filed with the Commission on
           September 4, 1998 and incorporated herein by reference).

 10.1 --   Purchase Agreement dated as of January 31, 1992 among the Company,
           Gerald R. Szczepanski, Lawrence H. Titus, Jr. and the Investors
           listed therein (filed as Exhibit 10.1 to the Company's Form S-1 (No.
           33-95090) filed with the Commission on July 28, 1995 and incorporated
           herein by reference).

 10.2 --   Purchase Agreement dated as of May 26, 1994 among the Company, Gerald
           R. Szczepanski, Lawrence H. Titus, Jr. and the Investors listed
           therein (filed as Exhibit 10.2 to the Company's Form S-1 (No.
           33-95090) filed with the Commission on July 28, 1995 and incorporated
           herein by reference).

 10.3 --   Credit Agreement dated as of January 30, 1997 between the
           Company and Wells Fargo Bank (Texas), National Association (filed
           as Exhibit 10.3 to the Company's 1996 Annual Report on Form 10-K
           filed with the Commission on April 23, 1997 and incorporated
           herein by reference).

 10.4 --   Form of Indemnification Agreement with a schedule of director
           signatories (filed as Exhibit 10.5 to the Company's Form S-1 (No.
           33-95090) filed with the Commission on July 28, 1995 and
           incorporated herein by reference).

 10.5 --   Employment Agreement dated January 31, 1992 between the Company
           and Gerald R. Szczepanski, as continued by letter agreement (filed
           as Exhibit 10.6 to the Company's Form S-1 (No. 33-95090) filed
           with the Commission on July 28, 1995 and incorporated herein by
           reference).
</TABLE>


                                       18
<PAGE>   19


<TABLE>
<S>        <C>
 10.6  --  1992 Incentive and Nonstatutory Stock Option Plan dated February 26,
           1992, and Amendments No. 1 through 3 thereto (filed as Exhibit 10.8
           to the Company's Form S-1 (No. 33-95090) filed with the Commission on
           July 28, 1995 and incorporated herein by reference).

 10.7  --  1994 Incentive and Nonstatutory Stock Option Plan for Key
           Employees dated September 30, 1994 (filed as Exhibit 10.9 to the
           Company's Form S-1 (No. 33-95090) filed with the Commission on
           July 28, 1995 and incorporated herein by reference).

 10.8  --  1995 Non-Employee Director Stock Option Plan (filed as Exhibit
           10.10 to the Company's Form S-1 (No. 333-00196) filed with the
           Commission on January 9, 1996 and incorporated herein by
           reference).

 10.9  --  Gadzooks, Inc. Employees' Savings Plan, as amended and revised
           (filed as Exhibit 4.5 to the Company's Form S-8 (No. 333-68205)
           filed with the Commission on December 1, 1998 and incorporated
           herein by reference).

 10.10 --  Severance Protection Agreement dated September 1, 1998 between
           the Company and Gerald R. Szczepanski (filed as Exhibit 10.24 to
           the Company's Quarterly Report on Form 10-Q filed with the
           Commission on December 15, 1998 and incorporated herein by
           reference).

 10.11 --  Form of Severance Agreement with a schedule of executive
           officer signatories (filed as Exhibit 10.11 to the Company's 1996
           Annual Report on Form 10-K filed with the Commission on April 23,
           1997 and incorporated herein by reference).

 10.12 --  Amendment No. 4 to the Gadzooks, Inc. 1992 Incentive and Nonstatutory
           Stock Option Plan (filed as Exhibit 10.14 to the Company's Amendment
           No. 3 to Form S-1 (No. 33-95090) filed with the Commission on
           September 27, 1995 and incorporated herein by reference).

 10.13 --  Amendment No. 5 to the Gadzooks, Inc. 1992 Incentive and
           Nonstatutory Stock Option Plan dated September 12, 1996 (filed as
           Exhibit 10.13 to the Company's 1996 Annual Report on Form 10-K
           filed with the Commission on April 23, 1997 and incorporated
           herein by reference).

 10.14 --  Amendment No. 1 to the 1994 Incentive and Nonstatutory Stock
           Option Plan for Key Employees dated September 12, 1996 (filed as
           Exhibit 10.14 to the Company's 1996 Annual Report on Form 10-K
           filed with the Commission on April 23, 1997 and incorporated
           herein by reference).

 10.15 --  Gadzooks, Inc. Employee Stock Purchase Plan (filed as Exhibit 4.5 to
           the Company's Form S-8 (No. 333-50639) filed with the Commission on
           April 21, 1998 and incorporated herein by reference).

 10.16 --  Lease Agreement between Gadzooks, Inc. (Lessee) and CB Midway
           International, LTD. (Lessor) dated August 23, 1996 (filed as
           Exhibit 10.17 to the Company's 1997 Annual Report on Form 10-K
           filed with the Commission on April 27, 1998 and incorporated
           herein by reference).

 10.17 --  Gadzooks, Inc. 401(k) Plan and Profit Sharing Plan Adoption
           Agreement (filed as Exhibit 10.18 to the Company's Quarterly
           Report on Form 10-Q filed with the Commission on June 9, 1998, and
           incorporated herein by reference).
</TABLE>


                                       19
<PAGE>   20


<TABLE>
<S>        <C>
10.18  --  Amendment No. 1 to the Credit Agreement between the Company and
           Wells Fargo Bank (Texas), National Association, dated June 11,
           1998 (filed as Exhibit 10.19 to the Company's Quarterly Report on
           Form 10-Q filed with the Commission on September 15, 1998, and
           incorporated herein by reference).

10.19  --  Amendment No. 2 to the Credit Agreement between the Company and
           Wells Fargo Bank (Texas) National Association, dated May 14, 1999
           (filed as Exhibit 10.20 to the Company's Quarterly Report on Form
           10-Q filed with the Commission on June 15, 1999 and incorporated
           herein by reference).

10.20  --  Amendment No. 6 to the Gadzooks, Inc. 1992 Incentive and
           Non-Statutory Stock Option Plan dated June 18, 1998 (filed as Exhibit
           4.8 to the Company's Form S-8 (No. 333-60869) filed with the
           Commission on August 7, 1998 and incorporated herein by reference).

10.21  --  Amendment No. 1 to the Gadzooks, Inc. 1995 Non-Employee Director
           Stock Option Plan dated June 18, 1998 (filed as Exhibit 4.10 to the
           Company's Form S-8 (No. 333-60869) filed with the Commission on
           August 7, 1998 and incorporated herein by reference).

10.22* --  Severance Protection Agreement dated January 5, 1998 between the
           Company and James F. Wimpress.

10.23* --  Severance Protection Agreement dated January 11, 1999 between the
           Company and Paula Y. Masters.


13*    --  Pages 9-27 as well as the inside back cover of the Company's 1999
           Annual Report to Shareholders.

23*    --  Consent of PricewaterhouseCoopers  LLP.

24*    --  Power of Attorney (included on signature page of this report).

27*    --  Financial Data Schedule.
</TABLE>

---------------------------------
* Filed herewith (unless otherwise indicated, exhibits are previously filed).







                                       20