EXHIBIT 11


              JACOBSON STORES INC. AND CONSOLIDATED SUBSIDIARIES

                      COMPUTATION OF EARNINGS PER SHARE
                                (in thousands)
                                 (unaudited)




Primary earnings per common share, as set forth in the consolidated
statements of earnings, are computed by dividing net earnings by the weighted
average number of shares of common stock and common stock equivalents
outstanding during the period. Fully diluted earnings per share are computed
based on the additional assumption that the Company's 6-3/4% Convertible
Subordinated Debentures due 2011 were converted to common stock at the date
of issuance with a corresponding increase in net earnings to reflect
reduction in related interest expense, net of income taxes, except if
anti-dilutive.

These computations are set forth below (in thousands except per share data):

<TABLE>
<CAPTION>

                                                          Thirteen Weeks Ended     Thirty-Nine Weeks Ended
                                                        ------------------------   ------------------------
                                                        October 25,  October 26,   October 25,  October 26,
                                                           1997         1996          1997         1996
                                                        ----------   -----------   ----------   -----------
<S>                                                      <C>          <C>            <C>          <C>  
EARNINGS (LOSS) PER COMMON SHARE AND
COMMON EQUIVALENT SHARE:
    Weighted average number of shares of common
    stock and common stock equivalents outstanding--
        Primary .....................................      5,844        5,781          5,795        5,788
        Fully diluted ...............................      6,756        6,837          6,834        6,837
                                                         =======      =======        =======      =======
NET LOSS ............................................    $  (937)     $(2,763)       $(4,581)     $(7,682)
                                                         =======      =======        =======      =======
                                                                                                
NET LOSS, adjusted to reflect reduction in interest                                             
    expense attributable to convertible debentures,                                             
    net of income tax ...............................    $  (598)     $(2,379)       $(3,520)     $(6,530)
                                                         =======      =======        =======      =======
                                                                                                
NET LOSS PER SHARE:                                                                             
    Primary and Fully diluted .......................    $ (0.16)     $ (0.48)       $ (0.79)     $ (1.33)
                                                         =======      =======        =======      =======
                                                                                            

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