EXHIBIT 11 JONES APPAREL GROUP, INC. AND SUBSIDIARIES Computation of Basic and Diluted Earnings per Share (In thousands except per share amounts) For the Year Ended December 31, ------------------------------- 1997 1996 1995<F1> ------- ------- ------- Basic Earnings per Share: - ------------------------- Net income........................... $121,725 $80,874 $63,485 ======== ======= ======= Weighted average number of shares outstanding.......................... 51,899 52,333 52,130 ======== ======= ======= Basic earnings per share............. $2.35 $1.55 $1.22 ======== ======= ======= Diluted Earnings per Share: - --------------------------- Net income........................... $121,725 $80,874 $63,485 ======== ======= ======= Weighted average number of shares outstanding.......................... 51,899 52,333 52,130 Assumed issuances under exercise of stock options..................... 2,006 1,318 894 -------- ------- ------- 53,905 53,651 53,024 ======== ======= ======= Diluted earnings per share........... $2.26 $1.51 $1.20 ======== ======= ======= <F1> Adjusted for 2-for-1 stock split effective October 2, 1996.