Earnings (Loss) Per Share

6 Months Ended

Aug. 01, 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			Six months ended
(in thousands)	August 1, 2020	August 3, 2019	August 1, 2020	August 3, 2019
Weighted average basic shares outstanding	72,142	73,529	72,028	75,267
Dilutive effect of stock-based compensation awards	—	787	—	1,014
Weighted average diluted shares outstanding	72,142	74,316	72,028	76,281

For the three months ended August 1, 2020 and August 3, 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 5.9 million and 4.6 million, respectively. For the six months ended August 1, 2020 and August 3, 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 5.5 million and 2.9 million, respectively.