Earnings Per Common Share

3 Months Ended

May 04, 2013

Earnings Per Common Share

Earnings Per Common Share

3.  Earnings Per Common Share

Basic earnings per common share is computed based on the weighted average number of shares of common stock outstanding during the period.  Diluted earnings per common share is computed based on the weighted average number of shares of common stock, plus the effect of dilutive potential common shares outstanding during the period, using the treasury stock method.  Dilutive potential common shares include outstanding stock options, restricted stock and warrants.

The computations for basic and diluted earnings per common share are as follows (in thousands, except per share data):

	13 Weeks Ended
	May 4, 2013		April 28, 2012
Net income	$	64,821	$	57,157
Weighted average common shares outstanding (for basic calculation)	122,702		121,514
Dilutive effect of stock-based awards	3,160		5,489
Weighted average common shares outstanding (for diluted calculation)	125,862		127,003
Earnings per common share - basic	$	0.53	$	0.47
Earnings per common share - diluted	$	0.52	$	0.45

For the 13 weeks ended May 4, 2013 and April 28, 2012, 0.7 million and 0.9 million shares, respectively, were attributable to outstanding stock-based awards that were excluded from the calculation of diluted earnings per common share because their inclusion would have been anti-dilutive.