Quarterly report pursuant to Section 13 or 15(d)

EARNINGS (LOSS) PER SHARE

v3.20.2
EARNINGS (LOSS) PER SHARE
9 Months Ended
Oct. 31, 2020
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 7.7 million and 10.1 million anti-dilutive shares during the third quarters of fiscal 2020 and fiscal 2019, respectively. There were 10.1 million and 10.6 million anti-dilutive shares during the nine months ended October 31, 2020 and November 2, 2019, 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

39 Weeks Ended

October 31,

November 2,

October 31,

November 2,

2020

2019

2020

2019

Basic earnings per common share:

Net income

$

111,122

$

28,705

$

39,860

  

$

90,943

Less income related to unvested restricted shares

 

(60)

 

(40)

 

(32)

 

(108)

Income available to common shareholders - Basic

$

111,062

$

28,665

$

39,828

$

90,835

Weighted-average common shares outstanding - Basic

147,402

150,877

147,188

155,299

Basic earnings per common share

$

0.75

$

0.19

$

0.27

$

0.58

Diluted earnings per common share:

 

 

Net income

$

111,122

$

28,705

$

39,860

$

90,943

Less income related to unvested restricted shares

 

(59)

(40)

 

(32)

(108)

Income available to common shareholders - Diluted

$

111,063

$

28,665

$

39,828

$

90,835

Weighted-average common shares outstanding - Basic

147,402

150,877

147,188

155,299

Effect of dilutive stock options and restricted stock units

2,890

48

1,608

43

Weighted-average common shares outstanding - Diluted

150,292

150,925

148,796

155,342

Diluted earnings per common share

$

0.74

$

0.19

$

0.27

$

0.58