Note 4 - Earnings (Loss) Per Share

3 Months Ended

May 02, 2020

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 4 Earnings (Loss) 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 May 2, 2020 and May 4, 2019:

	Thirteen Weeks Ended
($ thousands, except per share amounts)	May 2, 2020			May 4, 2019
NUMERATOR
Net (loss) earnings	$	(346,172	)	$	9,085
Net loss (earnings) attributable to noncontrolling interests		334			(2	)
Net earnings allocated to participating securities		—			(283	)
Net (loss) earnings attributable to Caleres, Inc. after allocation of earnings to participating securities	$	(345,838	)	$	8,800
DENOMINATOR
Denominator for basic (loss) earnings per common share attributable to Caleres, Inc. shareholders		38,649			40,741
Dilutive effect of share-based awards		—			60
Denominator for diluted (loss) earnings per common share attributable to Caleres, Inc. shareholders		38,649			40,801
Basic (loss) earnings per common share attributable to Caleres, Inc. shareholders	$	(8.95	)	$	0.22
Diluted (loss) earnings per common share attributable to Caleres, Inc. shareholders	$	(8.95	)	$	0.22

Options to purchase 22,667 and 16,667 shares of common stock for the thirteen weeks ended May 2, 2020 and May 4, 2019, respectively, 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 May 2, 2020 and May 4, 2019, the Company repurchased 1,510,888 and zero 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, as further discussed in Item 2, Unregistered Sales of Equity Securities and Use of Proceeds.