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Earnings Per Share
 12 Months Ended
Jan. 29, 2022
Earnings Per Share [Abstract]  
Earnings Per Share

Note 11—Earnings Per Share

Basic earnings per share is computed based upon the weighted-average number of common shares outstanding. Diluted earnings per share is computed based upon the weighted-average number of common shares outstanding plus the dilutive effect of common share equivalents calculated using the treasury stock method. Treasury stock is excluded from the denominator in calculating both basic and diluted earnings per share. In periods in which a net loss has occurred, as is the case for fiscal 2020, the dilutive effect of equity-based awards is not recognized and thus not utilized in the calculation of diluted loss per share, because the effect of their inclusion would have been anti-dilutive.

The following table sets forth the reconciliation of the numerator and the denominator of basic and diluted income (loss) per share for fiscal 2022, fiscal 2021 and fiscal 2020:

 

 

 

Fiscal Year Ended

 

 

 

January 29,
2022

 

 

January 30,
2021

 

 

February 1,
2020

 

 

 

(Dollars in millions except per share data)

 

Net income (loss)

 

$

56.7

 

 

$

212.3

 

 

$

(546.6

)

 

 

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding – basic

 

 

40,805,319

 

 

 

34,902,380

 

 

 

34,882,306

 

Effect of dilutive stock-based awards

 

 

1,270,667

 

 

 

896,111

 

 

 

—

 

Weighted-average common shares outstanding – diluted

 

 

42,075,986

 

 

 

35,798,491

 

 

 

34,882,306

 

 

 

 

 

 

 

 

 

 

 

Basic earnings (loss) per common share

 

$

1.39

 

 

$

6.08

 

 

$

(15.67

)

Diluted earnings (loss) per common share

 

$

1.35

 

 

$

5.93

 

 

$

(15.67

)

 

 

 

 

 

 

 

 

 

 

Antidilutive stock-based awards excluded from diluted calculation

 

 

1,424,463

 

 

 

1,179,568

 

 

 

2,267,855