Income Per Common Share

6 Months Ended

Aug. 01, 2020

Earnings Per Share [Abstract]

Income Per Common Share

Income (Loss) Per Common Share

Basic income (loss) per common share amounts are calculated using the weighted average number of common shares outstanding for the period. Diluted income (loss) per common share amounts are calculated using the weighted average number of common shares outstanding for the period and include the dilutive impact of exercised stock options as well as assumed vesting of restricted stock awards and shares currently available for purchase under the Company's Employee Stock Purchase Plan, using the treasury stock method. Performance-based restricted stock units are considered contingently issuable shares for diluted income per common share purposes and the dilutive impact, if any, is not included in the weighted average shares until the performance conditions are met.

The following table reconciles net income (loss) and the weighted average common shares outstanding used in the computations of basic and diluted income (loss) per common share (in thousands, except for share and per share data):

	Thirteen Weeks Ended				Twenty-Six Weeks Ended
	August 1, 2020		August 3, 2019		August 1, 2020		August 3, 2019
Numerator:
Net income (loss)	$	29,581	$	28,831	$	(21,001)	$	54,493
Denominator:
Weighted average common shares outstanding - basic	55,786,823		55,950,733		55,844,418		55,930,313
Dilutive impact of options, restricted stock units and employee stock purchase plan	180,017		343,376		—		356,319
Weighted average common shares outstanding - diluted	55,966,840		56,294,109		55,844,418		56,286,632
Per common share:
Basic income (loss) per common share	$	0.53	$	0.52	$	(0.38)	$	0.97
Diluted income (loss) per common share	$	0.53	$	0.51	$	(0.38)	$	0.97

The effects of the assumed vesting of restricted stock units for 7,837 shares of common stock for the thirteen weeks ended August 1, 2020 were excluded from the calculation of diluted net income per share, as their impact would have been anti-dilutive.

For twenty-six weeks ended August 1, 2020, all common stock equivalents related to outstanding stock options and unvested restricted units were excluded from the calculation of diluted net loss per share, as their impact would have been anti-dilutive due to the Company's net loss for the period.

The aforementioned excluded shares do not reflect the impact of any incremental repurchases under the treasury stock method.