<DOCUMENT>
<TYPE>EX-12.1
<SEQUENCE>3
<FILENAME>ex12-1.txt
<DESCRIPTION>EXHIBIT 12.1
<TEXT>

<PAGE>   1

                                                                    EXHIBIT 12.1

                     CKE RESTAURANTS, INC. AND SUBSIDIARIES
                COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                             (Dollars in thousands)

<TABLE>
<CAPTION>
                                                     Sixteen Weeks Ended
                                                  -------------------------
                                                   May 22,         May 17,
                                                    2000             1999
                                                  --------         --------
<S>                                               <C>              <C>
Earnings before fixed charges:
    Income (loss) before income taxes and
       extraordinary item                         $ (3,961)        $31,661
    Fixed charges                                   30,402          25,267
                                                  --------         -------
                                                  $ 26,441         $56,928
                                                  ========         =======

Fixed charges:
    Interest expense                              $ 20,695         $15,678
    Interest component of rent expense(1)            9,707           9,589
                                                  --------         -------
                                                  $ 30,402         $25,267
                                                  ========         =======

Ratio of earnings to fixed charges                     0.9x            2.3x
</TABLE>


---------------

(1) Calculated as one-third of total rent expense

</TEXT>
</DOCUMENT>