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Earnings Per Share
 3 Months Ended
Apr. 30, 2022
Earnings Per Share [Abstract]  
Earnings Per Share

Note 7—Earnings (Loss) Per Share

Basic earnings (loss) per share is computed based upon the weighted-average number of common shares outstanding. Diluted earnings (loss) 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 (loss) per share.

The following table sets forth the reconciliation of the numerator and the denominator of basic and diluted earnings (loss) per share and the stock-based awards excluded from the calculation of diluted earnings (loss) per share because their effect would have been antidilutive for the thirteen weeks ended April 30, 2022 and May 1, 2021:

 

 

 

Thirteen Weeks Ended

 

 

 

April 30,
2022

 

 

May 1,
2021

 

 

 

(In millions except per share data)

 

Net income (loss)

 

$

(35.1

)

 

$

15.1

 

 

 

 

 

 

 

 

Weighted-average common shares outstanding – Basic

 

 

40.6

 

 

 

38.4

 

Effect of dilutive stock-based awards

 

 

—

 

 

 

1.3

 

Weighted-average common shares outstanding – Diluted

 

 

40.6

 

 

 

39.7

 

 

 

 

 

 

 

 

Basic earnings (loss) per common share

 

$

(0.86

)

 

$

0.39

 

Diluted earnings (loss) per common share

 

$

(0.86

)

 

$

0.38

 

 

 

 

 

 

 

 

Antidilutive stock-based awards excluded from diluted calculation

 

 

4.2

 

 

 

1.4