1
EXHIBIT 11
WOOLWORTH CORPORATION
COMPUTATION OF NET INCOME (LOSS) PER COMMON SHARE
(Unaudited)
(in millions, except per share amounts)
Thirteen weeks ended Thirty-nine weeks ended
------------------------- --------------------------
Oct. 26, Oct. 28, Oct. 26, Oct. 28,
1996 1995 1996 1995
-------- -------- -------- --------
FINANCIAL STATEMENT PRESENTATION
Weighted-average number of common shares outstanding 133.6 132.8 133.3 132.8
======= ======= ======= =======
Net income (loss) $ 68.9 $ 33.8 $ 69.3 $ (57.5)
Less Preferred Dividends -- -- (0.1) (0.1)
------- ------- ------- -------
Net income (loss) applicable to common shares $ 68.9 $ 33.8 $ 69.2 $ (57.6)
======= ======= ======= =======
Net income (loss) per share of common stock $ 0.52 $ 0.26 $ 0.52 $ (0.43)
======= ======= ======= =======
PRIMARY(1)
Weighted-average number of common shares
outstanding and common share equivalents 134.6 132.8 134.0 132.8
======= ======= ======= =======
Net income (loss) applicable to common shares $ 68.9 $ 33.8 $ 69.2 $ (57.6)
======= ======= ======= =======
Primary net income (loss) per share of common stock $ 0.51 $ 0.26 $ 0.52 $ (0.43)
======= ======= ======= =======
FULLY DILUTED (1), (2)
Weighted-average number of common shares outstanding
and fully diluted common share equivalents 135.1 132.9 134.7 132.9
Assumed conversion of preferred stock -- 0.6 -- 0.6
------- ------- ------- -------
Adjusted weighted-average number of common
shares and common share equivalents 135.1 133.5 134.7 133.5
======= ======= ======= =======
Net income (loss) applicable to common shares $ 68.9 $ 33.8 $ 69.3 $ (57.5)
======= ======= ======= =======
Fully diluted net income (loss) per share of common stock $ 0.51 $ 0.26 $ 0.51 $ (0.43)
======= ======= ======= =======
(1) This calculation is submitted in accordance with Securities Exchange
Act of 1934 Release No. 9083 although not required by footnote 2 to
paragraph 14 of APB Opinion No. 15 because it results in dilution of
less than 3%.
(2) 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.