EXHIBIT 11
 
                        THE GAP, INC. AND SUBSIDIARIES
                       COMPUTATION OF EARNINGS PER SHARE


                                                    Fifty-two          Fifty-three          Fifty-two
                                                   Weeks Ended         Weeks Ended         Weeks Ended
                                                 February 1, 1997    February 3, 1996    January 28, 1995
                                                 --------------------------------------------------------
                                                                                
Net earnings ($000)                               $    452,859        $    354,039        $    320,240
                                                  ============        ============        ============

Weighted average shares of
common stock outstanding
during the period                                  283,330,290         288,062,430         291,141,076

Add incremental shares
from assumed exercise of stock
options (primary)                                    3,731,352           1,292,990           1,148,118
                                                  ------------        ------------        ------------
                                                   287,061,642         289,355,420         292,289,194
                                                  ============        ============        ============
Primary earnings per share                        $       1.58        $       1.22        $       1.10
                                                  ============        ============        ============

Weighted average shares of
common stock outstanding
during the period                                  283,330,290         288,062,430         291,141,076

Add incremental shares from
assumed exercise of stock
options (fully-diluted)                              3,732,467           2,311,716           1,178,832
                                                  ------------        ------------        ------------

                                                   287,062,757         290,374,146         292,319,908
                                                  ============        ============        ============
Fully-diluted earnings
per share                                         $       1.58        $       1.22        $       1.10
                                                  ============        ============        ============


NOTE:
     (1)  The information provided above is presented in accordance with
          Regulation S-K, Item 601(b)(11), while net earnings per share on the
          Consolidated Statements of Earnings is presented in accordance with
          APB Opinion 15. The information in this exhibit is not required under
          APB Opinion 15, as the difference between primary and fully-diluted
          earnings per share and earnings per share calculated on a weighted
          average share bases is less than 3%.

     (2)  All share and per share data have been restated to reflect the 2-for-1
          split of common stock in the form of a stock dividend effective April
          10, 1996.