EXHIBIT 11
J. BAKER, INC. AND SUBSIDIARIES
Computation of Primary and Fully Diluted Earnings Per Share*
Quarter Ended Year Ended
February 3, January 28, February 3, January 28,
1996 1995 1996 1995
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PRIMARY:
Net Earnings $ 690,603 $6,692,957 $(38,602,114) $23,616,171
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Weighted average number of common
shares outstanding 13,872,378 13,840,534 13,858,273 13,831,552
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Earnings (Loss) Per Share $0.0498 $0.484 $(2.790) $1.707
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ASSUMING FULL DILUTION:
Net Earnings (Loss) (1) $ 690,603 $7,476,957 $(38,602,114) $26,752,171
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Weighted average number of common
shares outstanding 13,872,378 13,840,534 13,858,273 13,831,552
Dilutive effect of outstanding stock options
and warrants 4,927 152,826 47,272 190,405
Dilutive effect of convertible subordinated debt - 4,341,085 - 4,341,085
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Weighted average number of common
shares as adjusted 13,877,305 18,334,445 13,905,545 18,363,042
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Earnings (Loss) Per Share $0.050 $0.408 $(2.776) $1.457
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1 For the purpose of calculating fully diluted earnings per share for the
quarter and year ended January 28, 1995, the conversion of the 7% convertible
debt results in an after tax benefit from reduced interest expense.
* This calculation is submitted in accordance with Item 601(b)(11) of Regulation
S-K.