Quarterly report pursuant to Section 13 or 15(d)

EARNINGS PER SHARE

v3.19.2
EARNINGS PER SHARE
6 Months Ended
Aug. 03, 2019
EARNINGS PER SHARE  
EARNINGS PER SHARE

8. EARNINGS PER SHARE

The Company’s unvested restricted stock awards contain non-forfeitable rights to dividends and meet the criteria of a participating security as defined by ASC 260, “Earnings Per Share”. In applying the two-class method, net income is allocated to both common and participating securities based on their respective weighted-average shares outstanding for the period. Basic earnings per share is computed by dividing net income allocated to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted earnings per share is computed by dividing income available to common shareholders by the weighted-average common shares outstanding plus the potential dilutive impact from stock options and restricted stock units. Common equivalent shares are excluded from the computation if their effect is anti-dilutive. There were 11.3 million and 7.3 million anti-dilutive shares during the second quarters of fiscal 2019 and fiscal 2018, respectively. There were 11.6 million and 7.0 million anti-dilutive shares during the six months ended August 3, 2019 and August 4, 2018, respectively.

The following table sets forth the computation of basic and diluted earnings per common share (in thousands, except per share data):

13 Weeks Ended

26 Weeks Ended

August 3,

August 4,

August 3,

August 4,

2019

2018

2019

2018

Basic earnings per common share:

Net income

$

24,547

$

27,488

$

62,238

  

$

54,373

Less income related to unvested restricted shares

 

(29)

 

(56)

 

(68)

 

(123)

Income available to common shareholders - Basic

$

24,518

$

27,432

$

62,170

$

54,250

Weighted-average common shares outstanding - Basic

157,272

177,348

157,511

179,436

Basic earnings per common share

$

0.16

$

0.15

$

0.39

$

0.30

Diluted earnings per common share:

 

 

Net income

$

24,547

$

27,488

$

62,238

$

54,373

Less income related to unvested restricted shares

 

(29)

(56)

 

(68)

(122)

Income available to common shareholders - Diluted

$

24,518

$

27,432

$

62,170

$

54,251

Weighted-average common shares outstanding - Basic

157,272

177,348

157,511

179,436

Effect of dilutive stock options and restricted stock units

1

867

24

990

Weighted-average common shares outstanding - Diluted

157,273

178,215

157,535

180,426

Diluted earnings per common share

$

0.16

$

0.15

$

0.39

$

0.30