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<PAGE>
BRADLEES, INC EXHIBIT 11
AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE (UNAUDITED)
(AMOUNTS IN THOUSANDS EXCEPT PER SHARE AMOUNTS)
<TABLE>
<CAPTION>
13 Weeks ended 13 Weeks ended
July 29, 2000 July 31, 1999
------------- -------------
<S> <C> <C>
BASIC INCOME (LOSS) PER SHARE
Net income $4,476 $3,678
======== ========
Weighted average number of shares outstanding 9,955 10,242
======== ========
Basic net income per share $0.45 $0.36
======== ========
DILUTED INCOME PER SHARE
Net income $4,476 $3,678
======== ========
Weighted average number of shares outstanding 9,955 10,242
Incremental shares for assumed exercise of stock options 71 334
Incremental shares for assumed exercise of warrants - 449
Incremental shares for assumed exercise of convertible notes (1) N/A -
-------- --------
Weighted average common and common equivalent shares 10,026 11,025
======== ========
Diluted net income per share $0.45 $0.33
======== ========
</TABLE>
<TABLE>
<CAPTION>
26 Weeks ended 26 Weeks ended
July 29, 2000 July 31, 1999
------------- -------------
<S> <C> <C>
BASIC INCOME (LOSS) PER SHARE
Net loss ($19,004) ($20,744)
=========== ==========
Weighted average number of shares outstanding 9,955 10,242
=========== ==========
Basic net loss per share ($1.91) ($2.03)
=========== ==========
DILUTED LOSS PER SHARE
Net loss ($19,004) ($20,744)
=========== ==========
Weighted average number of shares outstanding 9,955 10,242
Incremental shares for assumed exercise of stock options (1) - -
Incremental shares for assumed exercise of warrants (1) - -
Incremental shares for assumed exercise of convertible notes (1) N/A -
----------- ----------
Weighted average common and common equivalents shares 9,955 10,242
=========== ==========
Diluted net loss per share ($1.91) ($2.03)
=========== ==========
</TABLE>
(1) No incremental shares are considered since the impact would be
anti-dilutive.
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