EXHIBIT 11
NINE WEST GROUP INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
(in thousands except per share data)
13 weeks ended 26 weeks ended
August 3 July 29 August 3 July 29
1996 1995 (1) 1996 1995 (1)
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PRIMARY EARNINGS PER SHARE
Computation for Statement of Income:
Net income available for common stock $25,968 $ 3,024 $41,018 $17,074
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Shares:
Weighted average number of common
shares outstanding 35,656 34,923 35,529 34,866
Add: Net effect of dilutive stock options
based on the treasury stock method 1,267 - 1,226 -
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Weighted average number of shares outstanding
including common stock equivalents 36,923 34,923 36,755 34,866
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Primary earnings per share, as adjusted $ 0.70 $ 0.09 $ 1.12 $ 0.49
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ADDITIONAL PRIMARY COMPUTATION
Net income available for common stock $ 3,024 $17,074
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Shares:
Weighted average number of common
shares outstanding 34,923 34,866
Add: Net effect of dilutive stock options
based on the treasury stock method 659 318
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Weighted average number of shares outstanding
including common stock equivalents 35,582 35,184
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Primary earnings per share, as adjusted $ 0.08 $ 0.49
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FULLY DILUTED EARNINGS PER SHARE
Computation for Statement of Income:
Reconciliation of net income to amount used for
fully diluted computation in Statement of Income:
Income per primary calculation above $25,968 $41,018
Add: Interest on 5.5% convertible
debentures, net of tax effect 702 702
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Adjusted net income $26,670 $41,720
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Reconciliation of weighted average common
shares outstanding to amount used for fully
diluted computation in Statement of Income:
Weighted average number of common shares
outstanding 35,656 35,529
Add: Weighted average shares issuable from
assumed exercise of 5.5% convertible debentures 1,310 655
Net effect of dilutive stock options based on
the treasury stock method 1,352 1,757
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Fully diluted shares 38,318 37,941
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Fully diluted earnings per share $ 0.70 $ 1.10
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(1) Fully diluted earnings per common and common equivalent share are equal to primary
earnings per share for the 1995 periods.