1 Computation of Earnings per Common Share Exhibit 11 Fabri-Centers of America, Inc. (Thousands of dollars, except share and per share data) April 30, May 1, Thirteen Weeks Ended 1994 1993 - - - ----------------------------------------------------------------------------------------------------------------------- PRIMARY EARNINGS PER SHARE: Loss before cumulative effect of accounting change $ (1,256) $ (1,684) Cumulative effect of accounting change - 399 ------------- ------------- Net loss $ (1,256) $ (1,285) ============= ============= Weighted average shares of common stock outstanding during the period 9,118,896 9,159,108 Incremental shares from assumed exercise of stock options (primary) 228,177 208,952 ------------- ------------- 9,347,073 9,368,060 ============= ============= Primary earnings (loss) per common share: Loss before cumulative effect of accounting change $ (0.13) $ (0.18) Cumulative effect of accounting change - 0.04 ------------- ------------- Net loss $ (0.13) $ (0.14) ============= ============= FULLY DILUTED EARNINGS PER SHARE: Loss before cumulative effect of accounting change $ (1,256) $ (1,684) Interest expense applicable to 6 1/4% convertible subordinated debentures, net of tax 548 557 ------------- ------------- (708) (1,127) Cumulative effect of accounting change - 399 ------------- ------------- Net loss $ (708) $ (728) ============= ============= Weighted average shares of common stock outstanding during the period 9,118,896 9,159,108 Incremental shares from assumed exercise of stock options (fully diluted) 231,787 209,106 Incremental shares from assumed conversion of 6 1/4% convertible subordinated debentures 1,168,882 1,168,882 ------------- ------------- 10,519,565 10,537,096 ============= ============= Fully diluted earnings (loss) per common share: Loss before cumulative effect of accounting change $ (0.07) $ (0.11) Cumulative effect of accounting change - 0.04 ------------- ------------- Net loss $ (0.07) $ (0.07) ============= ============= <FN> Note: This calculation is submitted 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. Page 13 of 13