EXHIBIT 11.1

Carson Pirie Scott & Co. and Subsidiaries
Computation of Per Share Earnings
(dollars in thousands, except per share amounts)

                                      Three months ended
                                 ------------------------------
                                 November 1, 1997  November 2, 1996
                                 ------------------------------
Net income (loss)                      $5,427         ($1,189)
                                    =========        =========
Primary:
Weighted average number of
  common shares outstanding        15,783,191       16,044,165
Weighted average number of
  common share equivalents--
  stock options                       664,216               -
                                  -----------        ---------
Total common and
  common equivalent shares         16,447,407       16,044,165
                                  -----------      -----------
Primary net income (loss) per share     $0.33          ($0.07)
                                   ==========       ==========
Fully Diluted:
Weighted average number of
  common shares outstanding        15,783,191       16,044,165
Weighted average number of
  common share equivalents--
  stock options                       794,264               -
                                   ----------        ---------
Total common and common
  equivalent shares                16,577,455       16,044,165
                                  -----------      -----------
Fully diluted net
  income (loss) per share               $0.33          ($0.07)
                                  ===========      ===========

Primary  net  income  (loss) per share was  computed  using the  treasury  stock
method,  assuming  common  share  purchases  at the average  market price of the
common shares for the period.

Fully diluted net income (loss) per share was computed  using the treasury stock
method,  assuming  common share  purchases at the greater of the average  market
price of the common  shares  for the  period or the  ending  price of the common
shares.


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Carson Pirie Scott & Co. and Subsidiaries
Computation of Per Share Earnings
(dollars in thousands, except per share amounts)

                                       Nine months ended
                                 ------------------------------
                                 November 1, 1997   November 2, 1996
                                 ------------------------------
Net income                             $9,663          $11,277
                                    =========        =========
Primary:
Weighted average number of
  common shares outstanding        15,857,168       16,197,693
Weighted average number of
  common share equivalents--
  stock options                       611,055          522,404
                                  -----------        ---------
Total common and
  common equivalent shares         16,468,223       16,720,097
                                  -----------      -----------
Primary net income per share            $0.59            $0.67
                                   ==========       ==========
Fully Diluted:
Weighted average number of
  common shares outstanding        15,857,168       16,197,693
Weighted average number of
  common share equivalents--
  stock options                       677,302          542,349
                                   ----------        ---------
Total common and common
  equivalent shares                16,534,470       16,740,042
                                  -----------      -----------
Fully diluted net
  income per share                      $0.58            $0.67
                                  ===========      ===========

Primary  net income per share was  computed  using the  treasury  stock  method,
assuming common share purchases at the average market price of the common shares
for the period.

Fully diluted net income per share was computed using the treasury stock method,
assuming  common share  purchases at the greater of the average  market price of
the common shares for the period or the ending price of the common shares.