Earnings Per Share

3 Months Ended

Apr. 25, 2020

Earnings Per Share

Earnings Per Share

12.    Earnings Per Share

In accordance with ASC 260, (Topic 260, “Earnings Per Share”), basic earnings per share is computed by dividing net (loss) income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share is computed by dividing net (loss) income available to common stockholders by the weighted average number of common shares outstanding for the period and include the dilutive impact of potential shares from the exercise of stock options and restricted stock units. Potentially dilutive securities are excluded from the computation of diluted net (loss) income per share if their effect is anti-dilutive.

The following table sets forth the calculation of basic and diluted earnings per share for the thirteen weeks ended April 25, 2020 and April 27, 2019 as follows (dollars in thousands, except share and per share data):

	Thirteen Weeks Ended
	April 25, 2020		April 27, 2019
Numerator:
Net (loss) income	$	(358,942)	$	13,883
Denominator:
Weighted average common shares outstanding-basic		64,130,000		63,672,824
Effect of dilutive securities:
Stock options and restricted stock units		—		2,143,009
Weighted average common shares outstanding-diluted		64,130,000		65,815,833
Net (loss) income per common share:
Basic	$	(5.60)	$	0.22
Diluted	$	(5.60)	$	0.21

For the thirteen weeks ended April 25, 2020 and April 27, 2019, approximately 6,534,874 and 3,176,691, respectively, of stock options and other awards were excluded from the calculation of diluted net (loss) income per common share since their effect was anti-dilutive, of which 24,709 stock options and other awards would have been included as dilutive had we not recognized a net loss for the thirteen weeks ended April 25, 2020.