EARNINGS (LOSS) PER SHARE

9 Months Ended

Oct. 31, 2020

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE

Note 4    Earnings (Loss) Per Share

The Company uses the two-class method to compute basic and diluted earnings (loss) per common share attributable to Caleres, Inc. shareholders. In periods of net loss, no effect is given to the Company’s participating securities since they do not contractually participate in

the losses of the Company. The following table sets forth the computation of basic and diluted earnings (loss) per common share attributable to Caleres, Inc. shareholders for the periods ended October 31, 2020 and November 2, 2019:

	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
($ thousands, except per share amounts)	October 31, 2020		November 2, 2019		October 31, 2020		November 2, 2019
NUMERATOR
Net earnings (loss)	$	14,926	$	27,761	$	(361,915)	$	62,073
Net (earnings) loss attributable to noncontrolling interests		(509)		226		(223)		338
Net earnings allocated to participating securities		(512)		(946)		—		(2,042)
Net earnings (loss) attributable to Caleres, Inc. after allocation of earnings to participating securities	$	13,905	$	27,041	$	(362,138)	$	60,369
DENOMINATOR
Denominator for basic earnings (loss) per common share attributable to Caleres, Inc. shareholders		36,554		39,258		37,439		39,983
Dilutive effect of share-based awards		176		55		—		57
Denominator for diluted earnings (loss) per common share attributable to Caleres, Inc. shareholders		36,730		39,313		37,439		40,040
Basic earnings (loss) per common share attributable to Caleres, Inc. shareholders	$	0.38	$	0.69	$	(9.67)	$	1.51
Diluted earnings (loss) per common share attributable to Caleres, Inc. shareholders	$	0.38	$	0.69	$	(9.67)	$	1.51

Options to purchase 24,667 shares of common stock for both the thirteen and thirty-nine weeks ended October 31, 2020, were not included in the denominator for diluted earnings (loss) per common share attributable to Caleres, Inc. shareholders because the effect would be anti-dilutive. Options to purchase 16,667 shares of common stock were excluded from the denominator for both the thirteen and thirty-nine weeks ended November 2, 2019.

During the thirteen weeks ended October 31, 2020 and November 2, 2019, the Company repurchased zero and 58,263 shares, respectively, under the 2018 and 2019 publicly announced share repurchase programs, which permits repurchases of up to 2.5 million and 5.0 million shares, respectively.  The Company repurchased 2,902,122 and 1,588,741 shares during the thirty-nine weeks ended October 31, 2020 and November 2, 2019, respectively.  Refer to further discussion in Item 2, Unregistered Sales of Equity Securities and Use of Proceeds.