Earnings (Loss) Per Share

9 Months Ended

Oct. 31, 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		Nine months ended
(in thousands)	October 31, 2020	November 2, 2019	October 31, 2020	November 2, 2019
Weighted average basic shares outstanding	72,344	72,123	72,134	74,219
Dilutive effect of stock-based compensation awards	—	824	—	930
Weighted average diluted shares outstanding	72,344	72,947	72,134	75,149

For the three months ended October 31, 2020 and November 2, 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 5.4 million and 4.9 million, respectively. For the nine months ended October 31, 2020 and November 2, 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 3.2 million, respectively.