Earnings per Share

6 Months Ended

Aug. 01, 2015

Earnings Per Share

EARNINGS PER SHARE

6.   EARNINGS (LOSS) PER SHARE

Basic earnings per share is computed by dividing income available to common stockholders by the weighted-average number of common shares outstanding. Diluted earnings per share is computed by dividing income available to common stockholders by the weighted-average shares outstanding plus the potential dilutive impact from the exercise of stock options and restricted shares. Common equivalent shares are excluded from the computation if their effect is anti-dilutive.  There were 0.4 million and 3.8 million anti-dilutive shares during the second quarters of fiscal 2015 and fiscal 2014, respectively.  There were 0.3million and 3.7 million anti-dilutive shares during the six months ended August 1, 2015 and August 2, 2014, respectively.

The following table presents a reconciliation of the diluted weighted-average shares (in thousands, except per share data):

	13 Weeks Ended				26 Weeks Ended
	August 1,		August 2,		August 1,		August 2,
	2015		2014		2015		2014
Numerator:
Net income (loss)	$	35,711	$	(48,643)	$	102,449	$	(3,229)
Income related to vested restricted shares		150		—		438		—
Income (loss) available to common stockholders	$	35,561	$	(48,643)	$	102,011	$	(3,229)
Denominator:
Basic weighted-average shares		206,941		184,927		206,283		180,024
Effect of dilutive securities:
Stock options		2,482		—		2,957		—
Restricted shares		268		—		301		—
Dilutive weighted-average shares		209,691		184,927		209,541		180,024
Basic earnings (loss) per common share	$	0.17	$	(0.26)	$	0.49	$	(0.02)
Diluted earnings (loss) per common share	$	0.17	$	(0.26)	$	0.49	$	(0.02)