Earnings (Loss) Per Share

3 Months Ended

May 02, 2020

EARNINGS (LOSS) PER SHARE

Basic earnings (loss) per share is based on net income (loss) and the weighted average of Class A and Class B common shares outstanding. Diluted earnings per share reflects the potential dilution of common shares adjusted for outstanding stock options and restricted stock units ("RSUs") calculated using the treasury stock method.

The following is a reconciliation between basic and diluted weighted average shares outstanding, as used in the calculation of earnings (loss) per share:



	Three months ended
(in thousands)	May 2, 2020	May 4, 2019
Weighted average basic shares outstanding	71,914	77,004
Dilutive effect of stock-based compensation awards	—	1,259
Weighted average diluted shares outstanding	71,914	78,263

For the three months ended May 2, 2020 and May 4, 2019, the number of shares relating to potentially dilutive stock-based compensation awards that were excluded from the computation of diluted earnings (loss) per share due to their anti-dilutive effect was 5.6 million and 2.0 million, respectively.