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EXHIBIT 11
FAMILY DOLLAR STORES, INC.
STATEMENT RE COMPUTATIONS OF PER SHARE EARNINGS
QUARTER ENDED QUARTER ENDED
AS PRESENTED NOVEMBER 25, 2000 NOVEMBER 27, 1999
BASIC DILUTED BASIC DILUTED
<S> <C> <C> <C> <C>
AVERAGE SHARES OUTSTANDING 171,177,121 171,177,121 172,804,326 172,804,326
NET INCOME $ 41,461,240 $ 41,461,240 $ 36,583,521 $ 36,583,521
NET INCOME PER SHARE $ .24 $ .24 $ .21 $ .21
PRO FORMA DILUTION IMPACT OF COMMON STOCK EQUIVALENTS
ADDITIONAL WEIGHTED AVERAGE SHARES FROM
ASSUMED EXERCISE AT THE BEGINNING
OF THE YEAR OF DILUTIVE STOCK OPTIONS 4,818,410 4,488,446
WEIGHTED AVERAGE SHARES ASSUMED REPURCHASED FROM
ASSUMED PROCEEDS OF EXERCISES USING TREASURY STOCK
METHOD (AVERAGE MARKET PRICE) (3,933,421) (3,298,103)
NET PRO FORMA COMMON STOCK
EQUIVALENT INCREMENTAL SHARES 884,989 1,190,343
PERCENTAGE DILUTION FROM PRO FORMA COMMON
STOCK EQUIVALENT INCREMENTAL SHARES .52% .69%
TOTAL COMMON STOCK AND COMMON
STOCK EQUIVALENTS 172,062,110 173,994,669
NET INCOME $ 41,461,240 $ 36,583,521
PRO FORMA NET INCOME PER SHARE (INCLUDING DILUTIVE
COMMON STOCK EQUIVALENTS) $ .24 $ .21
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