Earnings Per Share

3 Months Ended

Apr. 30, 2022

Earnings Per Share

Earnings Per Share

Note 4    Earnings Per Share

The Company uses the two-class method to compute basic and diluted earnings 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 per common share attributable to Caleres, Inc. shareholders for the periods ended April 30, 2022 and May 1, 2021:

	Thirteen Weeks Ended
($ thousands, except per share amounts)	April 30, 2022		May 1, 2021
NUMERATOR
Net earnings	$	49,985	$	6,385
Net loss (earnings) attributable to noncontrolling interests		524		(238)
Net earnings attributable to Caleres, Inc.	$	50,509	$	6,147
Net earnings allocated to participating securities		(2,017)		(210)
Net earnings attributable to Caleres, Inc. after allocation of earnings to participating securities	$	48,492	$	5,937
DENOMINATOR
Denominator for basic earnings per common share attributable to Caleres, Inc. shareholders		36,209		36,707
Dilutive effect of share-based awards		467		158
Denominator for diluted earnings per common share attributable to Caleres, Inc. shareholders		36,676		36,865
Basic earnings per common share attributable to Caleres, Inc. shareholders	$	1.34	$	0.16
Diluted earnings per common share attributable to Caleres, Inc. shareholders	$	1.32	$	0.16

Options to purchase 16,667 shares of common stock for both the thirteen weeks ended April 30, 2022 and May 1, 2021 were not included in the denominator for diluted earnings per common share attributable to Caleres, Inc. shareholders because the effect would be anti-dilutive.  

During the thirteen weeks ended April 30, 2022, the Company repurchased 701,324 shares under the 2019 publicly announced share repurchase program, which permits repurchases of up to 5.0 million shares.  The Company did not repurchase any shares under share repurchase programs during the thirteen weeks ended May 1, 2021.  Refer to further discussion in Item 2, Unregistered Sales of Equity Securities and Use of Proceeds.  Subsequent to quarter-end, the Company has repurchased approximately 905,000 shares at an aggregate price of $22.0 million, bringing our fiscal year-to-date total to approximately 1,606,000 shares at an aggregate price of $36.7 million.