EXHIBIT 11 JONES APPAREL GROUP, INC. Computation of Basic and Diluted Earnings per Share (In thousands except per share amounts) For the Year Ended December 31, -------------------------------- 1998 1997<F1> 1996<F1> -------- -------- ------- Basic Earnings per Share: - ------------------------- Net income........................... $154,864 $121,725 $80,874 ======== ======== ======= Weighted average number of shares outstanding.......................... 101,614 103,797 104,667 ======== ======== ======= Basic earnings per share............. $1.52 $1.17 $0.77 ======== ======== ======= Diluted Earnings per Share: - --------------------------- Net income........................... $154,864 $121,725 $80,874 ======== ======== ======= Weighted average number of shares outstanding.......................... 101,614 103,797 104,667 Assumed issuances under exercise of stock options..................... 3,514 4,013 2,636 -------- -------- ------- 105,128 107,810 107,303 ======== ======== ======= Diluted earnings per share........... $1.47 $1.13 $0.75 ======== ======== ======= <F1> Adjusted for 2-for-1 stock split effective June 25, 1998.