1
EXHIBIT 11
WOOLWORTH CORPORATION
COMPUTATION OF NET INCOME (LOSS) PER COMMON SHARE
(Unaudited)
(in millions, except per share amounts)
Thirteen weeks ended Twenty-six weeks ended
---------------------- ----------------------
July 27, July 29, July 27, July 29,
1996 1995 1996 1995
-------- -------- -------- ---------
PRIMARY
Weighted-average number of common shares
outstanding and common share equivalents 134.3 132.7 133.7 132.7
======= ======= ======= =======
Net income (loss) applicable to common shares $ 22.4 $ (11.5) $ -- $ (91.3)
======= ======= ======= =======
Primary net income (loss) per share of common stock $ 0.17 $ (0.09) $ -- $ (0.69)
======= ======= ======= =======
FULLY DILUTED (1)
Weighted-average number of common shares outstanding
and fully diluted common share equivalents 134.3 132.8 133.9 132.8
Assumed conversion of preferred stock 0.6 0.6 0.6 0.6
------- ------- ------- -------
Adjusted weighted-average number of common
shares and common share equivalents 134.9 133.4 134.5 133.4
======= ======= ======= =======
Net income (loss) applicable to common shares $ 22.4 $ (11.5) $ -- $ (91.2)
======= ======= ======= =======
Fully diluted net income (loss) per share of common stock $ 0.17 $ (0.08) $ -- $ (0.68)
======= ======= ======= =======
(1) This calculation is submitted for the 1995 loss in accordance with
Regulation S-K, Item 601(b)(11) although it is contrary to paragraph 40
of APB Opinion No. 15 because it produces an anti-dilutive result.