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<PAGE>
EXHIBIT 11
BRADLEES, INC.
AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE (UNAUDITED)
(AMOUNTS IN THOUSANDS EXCEPT PER SHARE AMOUNTS)
<TABLE>
<CAPTION>
13 WEEKS ENDED 13 WEEKS ENDED
OCTOBER 28, 2000 OCTOBER 30, 1999
---------------- ----------------
<S> <C> <C>
BASIC INCOME (LOSS) PER SHARE
Net Income $(18,257) $(7,604)
========= =========
Weighted average number of shares outstanding 9,955 9,986
========= =========
Basic net income per share $(1.83) $(0.76)
========= =========
DILUTED INCOME PER SHARE
Net income $(18,257) $(7,604)
========= =========
Weighted average number of shares outstanding 9,955 9,986
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 9,986
========= =========
Diluted net loss per share $(1.83) $(0.76)
========= =========
</TABLE>
(1) No incremental shares are considered since the
impact would be anti-dilutive.
<TABLE>
<CAPTION>
39 WEEKS ENDED 39 WEEKS ENDED
OCTOBER 28, 2000 OCTOBER 30, 1999
---------------- ----------------
<S> <C> <C>
BASIC INCOME (LOSS) PER SHARE
Net Loss ($37,261) ($28,348)
========= =========
Weighted average number of shares outstanding 9,955 9,959
========= =========
Basic net loss per share ($3.74) ($2.85)
========= =========
DILUTED LOSS PER SHARE
Net loss ($37,261) ($28,348)
========= =========
Weighted average number of shares outstanding 9,955 9,959
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 9,959
========= =========
Diluted net loss per share ($3.74) ($2.85)
========= =========
</TABLE>
(1) No incremental shares are considered since the
impact would be anti-dilutive.
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