Earnings Per Share

12 Months Ended

Jan. 29, 2022

EARNINGS PER SHARE

The computation of basic earnings per share (EPS) is based on the number of weighted average common shares outstanding during the period. The computation of diluted EPS is based on the weighted average number of shares outstanding plus the incremental shares that would be outstanding assuming exercise of dilutive stock options and issuance of restricted stock. The number of incremental shares is calculated by applying the treasury stock method. The following table sets forth the computation of basic and diluted earnings per share in thousands:


	Fiscal Year Ended
	January 29, 2022 (52-weeks)		January 30, 2021 (52-weeks)		February 1, 2020 (52-weeks)
Net income	$	174,313	$	74,266	$	27,344

Weighted average number of common shares outstanding	14,993		16,547		17,746
Dilutive stock options	130		77		11
Dilutive restricted stock units	459		413		200
Weighted average number of common shares outstanding and dilutive shares	15,582		17,037		17,957

Basic earnings per share	$	11.63	$	4.49	$	1.54
Diluted earnings per share	$	11.19	$	4.36	$	1.52

In calculating diluted earnings per share, no options to purchase shares of common stock outstanding as of the end of the period were excluded in the computations of diluted earnings per share due to their anti-dilutive effect in Fiscal 2022. In calculating diluted earnings per share, 95,724 and 148,821 options to purchase shares of common stock outstanding as of the end of the period were excluded in the computations of diluted earnings per share due to their anti-dilutive effect in Fiscal 2021 and Fiscal 2020, respectively.

At January 29, 2022, we excluded 55,084 non-vested stock awards granted to certain employees from the computation of diluted weighted average common shares and common share equivalents outstanding, because they are subject to performance-based annual vesting conditions which had not been achieved by the end of Fiscal 2022. Assuming the performance criteria had been achieved at target as of January 29, 2022, the incremental dilutive impact would have been 20,757 shares.