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EXHIBIT NO. 11
COMPUTATION OF EARNINGS PER COMMON SHARE
FABRI-CENTERS OF AMERICA, INC.
(THOUSANDS OF DOLLARS, EXCEPT SHARE AND PER SHARE DATA)
THIRTEEN WEEKS ENDED
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MAY 3, APRIL 27,
1997 1996
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PRIMARY EARNINGS PER SHARE:
Net earnings $ 2,608 $ 1,070
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Weighted average shares of common stock
outstanding during the period 18,024,303 18,268,965
Incremental shares from assumed exercise
of stock options - primary 1,207,417 541,043
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19,231,720 18,810,008
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Net earnings per common share - primary $ 0.14 $ 0.06
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EARNINGS PER SHARE ASSUMING FULL DILUTION:
Net earnings $ 2,608 $ 1,070
Interest expense applicable to 6 1/4%
convertible subordinated debentures,
net of tax 556 556
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Net earnings $ 3,164 $ 1,626
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Weighted average shares of common stock
outstanding during period 18,024,303 18,268,965
Incremental shares from assumed exercise
of stock options - fully diluted 1,456,162 561,575
Incremental shares from assumed conversion
of 6 1/4% convertible subordinated
debentures 2,337,764 2,337,764
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21,818,229 21,168,304
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Net earnings per common share assuming
full dilution $ 0.15(a) $ 0.08(a)
============ ============
<FN>
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(a) 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.
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