diff --git a/dir.c b/dir.c
index 797805d6a1d33ef66ccb61155135cdcd1a53d9d0..c2a1c87f4969531bbb8ee2830fc639dc7fa89811 100644
--- a/dir.c
+++ b/dir.c
@@ -816,9 +816,9 @@ static void prep_exclude(struct dir_struct *dir, const char *base, int baselen)
 	/* Read from the parent directories and push them down. */
 	current = stk ? stk->baselen : -1;
 	while (current < baselen) {
-		struct exclude_stack *stk = xcalloc(1, sizeof(*stk));
 		const char *cp;
 
+		stk = xcalloc(1, sizeof(*stk));
 		if (current < 0) {
 			cp = base;
 			current = 0;