1 EXHIBIT 12 J. BAKER, INC. AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (DOLLARS IN THOUSANDS) FISCAL YEARS ENDED ----------------------------------------------------------------------- FEBRUARY 3, FEBRUARY 2, FEBRUARY 1, JANUARY 30, JANUARY 29, 1990 1991 1992 1993 1994 ----------- ----------- ----------- ----------- ----------- HISTORICAL RATIO OF EARNINGS TO FIXED CHARGES Earnings from continuing operations before taxes and extraordinary item per consolidated statements of earnings $20,065 $11,307 $12,898 $21,076 $36,424 Add: Portion of rents representative of the interest factor 2,096 2,973 5,459 6,564 15,227 Interest on indebtedness including the amortization of debt expense and detachable warrant value 8,930 10,405 10,352 8,211 8,146 ------- ------- ------- ------- ------- Earnings before fixed charges, as adjusted $31,091 $24,685 $28,709 $35,851 $59,797 ======= ======= ======= ======= ======= Fixed charges Interest on indebtedness including the amortization of debt expense and detachable warrant value(1) $ 8,930 $10,405 $10,352 $ 8,211 $ 8,146 ------- ------- ------- ------- ------- Rents $ 6,289 $ 8,920 $16,376 $19,691 $45,680 Portion of rents representative of the interest factor (2) $ 2,096 $ 2,973 $ 5,459 $ 6,564 $15,227 ------- ------- ------- -------- ------- Fixed charges (1) + (2) $11,026 $13,378 $15,811 $14,775 $23,373 ======= ======= ======= ======= ======= Ratio of earnings to fixed charges 2.82x 1.85x 1.82x 2.43x 2.56x ======= ======= ======= ======= =======