EXHIBIT 11
NINE WEST GROUP INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
(in thousands except per share data)
13 weeks ended 39 weeks ended
Nov. 2 Oct. 28 Nov. 2 Oct. 28
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 $35,564 $20,798 $76,582 $37,872
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Shares:
Weighted average number of common
shares outstanding 35,739 35,059 35,599 34,946
Add: Net effect of dilutive stock options
based on the treasury stock method 990 1,475 1,129 597
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Weighted average number of shares outstanding
including common stock equivalents 36,729 36,534 36,728 35,543
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Primary earnings per share, as adjusted $ 0.97 $ 0.57 $ 2.09 $ 1.07
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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 $35,564 $76,582
Add: Interest on 5.5% convertible
debentures, net of tax effect 1,713 2,415
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Adjusted net income $37,277 $78,997
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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 35,739 35,599
Add: Weighted average shares issuable from
assumed exercise of 5.5% convertible debentures 3,056 1,455
Net effect of dilutive stock options based on
the treasury stock method 990 1,477
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Fully diluted shares 39,785 38,531
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Fully diluted earnings per share $ 0.94 $ 2.05
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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.