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EXHIBIT 11
WOOLWORTH CORPORATION
COMPUTATION OF NET INCOME (LOSS) PER COMMON SHARE
(Unaudited)
(in millions, except per share amounts)
Thirteen weeks ended
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April 26, April 27,
1997 1996
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FINANCIAL STATEMENT PRESENTATION
Weighted-average number of common shares outstanding 134.1 133.1
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Net income/(loss) $ 1 $ (22)
Less: Preferred dividends -- --
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Net income/(loss) applicable to common shares $ 1 $ (22)
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Net income/(loss) per share of common stock $ 0.01 $ (0.17)
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PRIMARY(1)
Weighted-average number of common shares
outstanding and common share equivalents 135.2 133.1
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Net income/(loss) applicable to common shares $ 1 $ (22)
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Primary net income/(loss) per share of common stock $ 0.01 $ (0.17)
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FULLY DILUTED (1) (2)
Weighted-average number of common shares outstanding
and fully diluted common share equivalents 135.2 133.6
Assumed conversion of preferred stock -- 0.5
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Adjusted weighted-average number of common
shares and common share equivalents 135.2 134.1
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Net income/(loss) applicable to common shares $ 1 $ (22)
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Fully diluted net income/(loss) per share of common stock $ 0.01 $ (0.16)
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(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 1996 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.