Exhibit 11.1
EXHIBIT 11.1
STATEMENT RE: COMPUTATION OF HISTORICAL EARNINGS PER COMMON SHARE
PROFFITT'S, INC. AND SUBSIDIARIES
(in thousands, except per share amounts)
Three Months Ended
-------------------
May 4, April 29,
1996 1995
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PRIMARY:
Average shares outstanding 19,156 18,870
Net effect of dilutive stock
options -- based on the
treasury stock method using
average market price 588 312
------ ------
Total 19,744 19,182
====== ======
Net income $6,254 $3,648
Less Preferred Stock dividends (488) (488)
------ ------
Net income available to
common shareholders $5,766 $3,160
====== ======
Primary earnings per common share $0.29 $0.16
====== ======
EXHIBIT 11.1 (continued)
STATEMENT RE: COMPUTATION OF HISTORICAL EARNINGS
PER COMMON SHARE
PROFFITT'S, INC. AND SUBSIDIARIES
(in thousands, except per share amounts)
Three Months Ended
-------------------
May 4, April 29,
1996 1995
-------- ---------
FULLY DILUTED:
Average shares outstanding 19,156 18,870
Net effect of dilutive stock
options -- based on
the treasury stock method
using period-end
market price if higher
than average price 777 317
------ ------
Total 19,933 19,187
====== ======
Net income $6,254 $3,648
Less Preferred Stock dividends (488) (488)
------ ------
Net income available to
common shareholders $5,766 $3,160
====== ======
Fully diluted earnings
per common share $0.29 $0.16
====== ======
Note/For each period shown, the fully diluted earnings per common
share calculation is anti-dilutive, and therefore, no fully diluted
presentation is needed.