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EXHIBIT 11
WOOLWORTH CORPORATION
COMPUTATION OF NET INCOME (LOSS) PER COMMON SHARE
(Unaudited)
(in millions, except per share amounts)
Thirteen weeks ended Thirty-nine weeks ended
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Oct. 25, Oct. 26, Oct. 25, Oct. 26,
1997 1996 1997 1996
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FINANCIAL STATEMENT PRESENTATION
Weighted-average number of common shares outstanding 134.9 133.6 134.5 133.3
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Income (loss) from continuing operations 55 77 98 88
Less: Preferred dividends -- -- -- --
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Income from continuing operations applicable to common shares 55 77 98 88
Loss from discontinued operations -- (8) (223) (19)
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Net income (loss) $ 55 $ 69 $ (125) $ 69
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Per Common Share:
Income from continuing operations $ 0.41 $ 0.58 $ 0.73 $ 0.66
Loss from discontinued operations -- (0.06) (1.66) (0.14)
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Net income (loss) per share of common stock $ 0.41 $ 0.52 $ (0.93) $ 0.52
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PRIMARY(1)
Weighted-average number of common shares
outstanding and common share equivalents 136.3 134.6 134.5 134.0
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Income from continuing operations applicable to common shares 55 77 98 88
Loss from discontinued operations -- (8) (223) (19)
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Net income (loss) $ 55 $ 69 $ (125) $ 69
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Primary:
Income from continuing operations $ 0.40 $ 0.57 $ 0.73 $ 0.66
Loss from discontinued operations -- (0.06) (1.66) (0.14)
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Net income (loss) per share of common stock $ 0.40 $ 0.51 $ (0.93) $ 0.52
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FULLY DILUTED (1) (2)
Weighted-average number of common shares outstanding
and fully diluted common share equivalents 136.3 135.1 136.0 134.7
Assumed conversion of preferred stock -- -- -- --
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Adjusted weighted-average number of common
shares and common share equivalents 136.3 135.1 136.0 134.7
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Income from continuing operations applicable to common shares 55 77 98 88
Loss from discontinued operations -- (8) (223) (19)
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Net income (loss) $ 55 $ 69 $ (125) $ 69
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Fully Diluted:
Income from continuing operations $ 0.40 $ 0.57 $ 0.72 $ 0.65
Loss from discontinued operations -- (0.06) (1.64) (0.14)
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Net income (loss) per share of common stock $ 0.40 $ 0.51 $ (0.92) $ 0.51
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(1) This calculation is submitted in accordance with Securities Exchange
Act of 1934 Release No. 9083 although not required by footnote 2 to
paragraph 14 of APB Opinion No. 15 because it results in dilution of
less than 3%.
(2) This calculation is submitted for the 1997 loss in accordance with
Regulation S-K, Item 601(b)(11) although it is contrary to paragraph 40
of APB Opinion No. 15 because it produces an anti-dilutive result.