EXHIBIT 11 JONES APPAREL GROUP, INC. AND SUBSIDIARIES Computation of Primary and Fully Diluted Earnings per Share (In thousands except per share amounts) For the Year Ended December 31, ------------------------------- 1996 1995(1) 1994(1) ------- ------- ------- Primary Earnings per Share: - --------------------------- Net income........................... $80,874 $63,485 $54,920 ======= ======= ======= Weighted average number of shares outstanding.......................... 52,333 52,130 51,656 Assumed issuances under exercise of stock options..................... 1,332 916 1,268 ------- ------- ------- 53,665 53,046 52,924 ======= ======= ======= Primary earnings per share........... $1.51 $1.20 $1.04 ======= ======= ======= Fully Diluted Earnings per Share: - --------------------------------- Net income........................... $80,874 $63,485 $54,920 ======= ======= ======= Weighted average number of shares outstanding.......................... 52,333 52,130 51,656 Assumed issuances under exercise of stock options..................... 1,744 1,328 1,269 ------- ------- ------- 54,077 53,458 52,925 ======= ======= ======= Fully diluted earnings per share................................ $1.50 $1.19 $1.04 ======= ======= ======= (1) Adjusted for 2-for-1 stock split effective October 2, 1996.