1 EXHIBIT 11 THE GYMBOREE CORPORATION COMPUTATION OF NET INCOME (LOSS) PER SHARE (IN THOUSANDS, EXCEPT PER SHARE DATA) 13 Weeks Ended 26 Weeks Ended ------------------------ ----------------------- August 1, August 2, August 1, August 2, 1998 1997 1998 1997 --------- --------- --------- --------- NET INCOME (LOSS) $ (830) $ 4,578 $ 3,317 $ 13,177 ======== ======== ======== ======== Weighted average number of shares outstanding during the period: Common Stock 24,164 24,302 24,136 24,642 Add incremental shares from assumed exercise of stock options 0 319 78 381 -------- -------- -------- -------- Weighted average common and common equivalent shares outstanding 24,164 24,621 24,214 25,023 ======== ======== ======== ======== BASIC NET INCOME (LOSS) PER SHARE $ (0.03) $ 0.19 $ 0.14 $ 0.53 ======== ======== ======== ======== DILUTED NET INCOME (LOSS) PER SHARE $ (0.03) $ 0.19 $ 0.14 $ 0.53 ======== ======== ======== ========