<TABLE>
THE PEP BOYS - MANNY, MOE & JACK AND SUBSIDIARIES Exhibit 11
COMPUTATION OF NET EARNINGS PER SHARE
(in thousands, except per share data)
(UNAUDITED)
<CAPTION>
--------------------------------------------------------------------------------------------------------------------------------
Thirteen weeks ended Twenty-six weeks ended
---------------------------------- ----------------------------------
July 29, 2000 July 31, 1999 July 29, 2000 July 31, 1999
-------------- -------------- -------------- --------------
<S> <C> <C> <C> <C>
(a) Net earnings..................................... $ 3,409 $20,065 $ 7,816 $30,158
Adjustment for interest on 4% convertible
subordinated notes, net of income tax effect... - 403 - 866
Adjustment for interest on zero coupon convertible
subordinated notes, net of income tax effect... - 1,060 - -
---------------------------------------------------------------------------------------------------------------------------------
(b) Adjusted net earnings $ 3,409 $21,528 $ 7,816 $31,024
---------------------------------------------------------------------------------------------------------------------------------
(c) Average number of common shares outstanding
during the period.............................. 51,055 50,420 51,026 50,466
Common shares assumed issued upon conversion of
4% convertible subordinated notes.............. - 1,525 - 1,644
Common shares assumed issued upon conversion of
zero coupon convertible subordinated notes..... - 3,513 - -
Common shares assumed issued upon exercise
of dilutive stock options, net of assumed
repurchase, at the average market price........ 20 380 12 316
---------------------------------------------------------------------------------------------------------------------------------
(d) Average number of common shares assumed
outstanding during the period.................. 51,075 55,838 51,038 52,426
---------------------------------------------------------------------------------------------------------------------------------
Basic Earnings per Share:
Before Extraordinary Gain (a/c).................. $ .07 $ .40 $ .15 $ .60
Extraordinary Gain............................... .02 - .06 -
----------------------------------------------------------------------------------------------------------------------------------
Basic Earnings per Share: $ .09 $ .40 $ .21 $ .60
----------------------------------------------------------------------------------------------------------------------------------
Diluted Earnings per Share:
Before Extraordinary Gain (b/d).................. $ .07 $ .39 $ .15 $ .59
Extraordinary Gain............................... .02 - .06 -
----------------------------------------------------------------------------------------------------------------------------------
Diluted Earnings per Share: $ .09 $ .39 $ .21 $ .59
----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
