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



<TABLE>
<CAPTION>
                                                       Year to Date as of         Fiscal Years Ended
                                                  -------------------------------------------------------
                                                   October 31,   November 1,   January 31,    February 1, 
                                                     1998          1997          1998           1997     
                                                   (39 Weeks)    (39 Weeks)    (52 Weeks)     (52 Weeks)
                                                  -------------------------------------------------------
<S>                                                <C>           <C>           <C>            <C>        
       Ratio of Earnings to Fixed Charges
       ----------------------------------
       COMPUTATION OF EARNINGS

    1  Pretax Income                                 24,726        24,667        81,326         75,215   
    2  Add previously capitalized interest                                                               
         amortized during the period                    413           411           550            548   
    3  Less interest capitalized during                                                                  
         the period                                     124             0             0            128   
                                                   --------      --------      --------       --------
    4  Total earnings (sum of lines                  
       1 to 3)                                       25,015        25,078        81,876         75,635   

       COMPUTATION OF FIXED CHARGES                                                                      
                                                                                                         
    5  Interest (1)                                  28,883        24,025        32,239         32,128   
    6  Interest factor in rental expense              3,138         2,114         2,691          2,657   
                                                   --------      --------      --------       --------
    7  Total fixed charges (sum of lines                                                                 
         5 and 6)                                    32,021        26,139        34,930         34,785   
                                                                                                         
    8  TOTAL EARNINGS AND                                                                                
         FIXED CHARGES (LINE 4                                                                           
         PLUS LINE 7)                                57,036        51,217       116,806        110,420   
                                                   ========      ========      ========       ========
    9  Ratio (line 8 divided by line 7)                 1.8           2.0           3.3            3.2   

       (1) Includes capitalized interest
</TABLE>



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