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EXHIBIT 11
GARDEN BOTANIKA, INC.
CALCULATION OF EARNINGS
PER COMMON AND COMMON EQUIVALENT SHARE
(EXHIBIT 11)
(AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA)
(UNAUDITED)
QUARTER ENDED
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MAY 3, MAY 4,
1997 1996
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PRIMARY:
Earnings --
Net earnings (loss) applicable to common and
common equivalent shares $(10,478) $(4,997)
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Shares --
Weighted average common shares outstanding 7,069 7,069
Net effect of stock options, based on treasury stock
method using average market price(1) -- --
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Weighted average common and common equivalent shares 7,069 7,069
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Primary earnings (loss) per common and common equivalent share $(1.48) $(0.71)
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FULLY DILUTED:
Fully diluted earnings (loss) per share is not presented, as there were no
potentially dilutive securities.
NOTES:
(1) In the calculation of weighted average common and common equivalent shares,
nonqualified stock options and warrants to purchase common stock are
considered common stock equivalents. Such options and warrants are
converted using the treasury stock method, which assumes that the shares
issuable upon exercise of the options or warrants were outstanding for the
full period. In accordance with generally accepted accounting principles,
no common stock equivalents are shown for the first quarter of either
fiscal 1999 or 1998, as their effect would have been anti-dilutive.
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