EXHIBIT 11
J. BAKER, INC. AND SUBSIDIARIES
Computation of Primary and Fully Diluted Earnings Per Share*
(Unaudited)
Quarter Ended Nine Months Ended
November 1, November 2, November 1, November 2,
1997 1996 1997 1996
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PRIMARY:
Net Earnings (Loss) $ (1,382,693) 1,418,363 $ 790,426 $ 3,729,645
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Weighted average number of common
shares outstanding 13,918,898 13,892,318 13,908,267 13,885,926
=========== ========== =========== ==========
Earnings (Loss) Per Share $(0.099) $ 0.102 $0.057 $ 0.269
============ ============ =========== ============
ASSUMING FULL DILUTION:
Net Earnings (Loss) $(1,382,693) $ 1,418,363 $ 790,426 $ 3,729,645
============= ============ ============ ============
Weighted average number of common
shares outstanding 13,918,898 13,892,318 13,908,267 13,885,926
Dilutive effect of outstanding stock options 53,912 6,386 40,100 14,084
Dilutive effect of convertible subordinated debt(1) - - - -
------------- ------------- -------------- -----------
Weighted average number of common
shares as adjusted 13,972,810 13,898,704 13,948,367 13,900,010
=========== =========== =========== ===========
Earnings (Loss) Per Share $(0.099) $ 0.102 $0.057 $ 0.268
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(1)The common stock issuable under the convertible subordinated debt was not
included in the calculations of fully diluted earnings per share because it
would be antidilutive.
* This calculation is submitted in accordance with Item 601(b)(11) of Regulation
S-K.