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                      SHOPKO STORES, INC. AND SUBSIDIARIES
                EXHIBIT 12 - STATEMENTS RE COMPUTATION OF RATIOS
                     (IN THOUSANDS, EXCEPT PER SHARE DATA)



<TABLE>
<CAPTION>                                                                               
                                                      First Half as of                            Fiscal Years Ended  
                                           -----------------------------------------------------------------------------------------
                                              September 6,        September 7,    February 22,        February 24,     February 25,
                                                 1997                1996            1997                1996             1995
                                             (28 Weeks)           (28 Weeks)      (52 Weeks)          (52 Weeks)       (52 Weeks)
                                           -----------------------------------------------------------------------------------------
<S>                                         <C>             <C>             <C>             <C>              <C>
                                                                                                                  
   Ratio of Earnings to Fixed Charges                                                                             
   ----------------------------------
   COMPUTATION OF EARNINGS                                                                                        
                                                                                                                  
1  Pretax Income                            $    18,793        $     15,944     $     74,022     $    63,140     $        62,418
2  Add previously capitalized interest                                                                          
     amortized during the period                    298                 295              548             540                 503
3  Less interest capitalized during                                                                             
     the period                                       0                 128              128             249               1,309
                                            -----------        ------------     ------------     -----------     ---------------
4  Total earnings (sum of lines 1 to 3)          19,091              16,111           74,442          63,431              61,612
                                                                                                                
   COMPUTATION OF FIXED CHARGES                                                                                 
                                                                                                                
5  Interest (1)                                  16,913              17,128           31,905          34,531              30,351
6  Interest factor in rental expense              1,541               1,382            2,657           2,689               2,403
                                            -----------        ------------     ------------     -----------     ---------------
7  Total fixed charges (sum of lines                                                                            
     5 and 6)                                    18,454              18,510           34,562          37,220              32,754
                                                                                                                
8  TOTAL EARNINGS AND                                                                                           
     FIXED CHARGES (LINE 4                                                                                               
     PLUS LINE 7                            $    37,545        $     34,621     $    109,004     $   100,651     $        94,366
                                            ===========        ============     ============     ===========     ===============
9  Ratio (line 8 divided by line 7)                 2.0                 1.9              3.2             2.7                 2.9
</TABLE>

     (1) Includes capitalized interest