TOWN & COUNTRY CORPORATION                                            EXHIBIT 11



                        Earnings Per Share Computations
                                  (Unaudited)

                              For the Three Months Ended     For the Six Months Ended
                               August 27,     August 28,      August 27,     August 28,
                                  1995           1994            1995           1994

PRIMARY EPS:
                                                              
Net loss                    $   (4,181,012)$   (7,169,427) $   (4,695,436)$   (9,647,390)
Accretion of discount
  and dividends
  on preferred stocks              287,304        479,552         531,039        946,748
Loss attributable to common
  stockholders              $   (4,468,316)$   (7,648,979) $   (5,226,475)$  (10,594,138)

Weighted average common
  shares outstanding            23,774,892     23,430,390      23,675,234     23,428,492
Weighted shares issued
  from exercise and
  assumed execise of:
   warrants                         --             --              --             --
   options                          --             --              --             --
Shares for EPS
  calculation                   23,774,892     23,430,390      23,675,234     23,428,492



REPORTED EPS:
Net loss                    $        (0.18)$        (0.31) $        (0.20)$        (0.41)
Accretion of discount
  and dividends
  on preferred stocks                (0.01)         (0.02)          (0.02)         (0.04)
Loss per common share       $        (0.19)$        (0.33) $        (0.22)$        (0.45)


FULLY DILUTED EPS:

For the periods presented in this exhibit, there is no dilution from Primary
EPS.





















This exhibit should be reviewed in conjunction with Note 4 of Notes to
Consolidated Financial Statements.