Earnings Per Share

6 Months Ended

Aug. 03, 2019



	For the Three Months Ended				For the Three Months Ended
	August 3, 2019				August 4, 2018
(In thousands, except per share amounts)	Income (Numerator)		Shares (Denominator)	Per Share Amount	Income (Numerator)			Shares (Denominator)	Per Share Amount

Earnings (loss) from continuing operations	$	793			$	(25	)

Basic EPS from continuing operations
Income (loss) available to
common shareholders	793		15,959	$0.05	(25		)	19,342	$0.00

Effect of Dilutive Securities from continuing operations
Dilutive share-based awards⁽¹⁾			35					—
Employees' preferred stock⁽²⁾			34					—

Diluted EPS from continuing operations
Income (loss) available to
common shareholders plus
assumed conversions	$	793	16,028	$0.05	$	(25	)	19,342	$0.00

⁽¹⁾ Due to the loss from continuing operations for the second quarter ended August 4, 2018, restricted share-based awards are excluded from the diluted earnings per share calculation.

⁽²⁾ The Company's Employees' Subordinated Convertible Preferred Stock is convertible one for one to the Company's common stock. Because no dividends are paid on this stock, these shares are assumed to be converted for the second quarter ended August 3, 2019. Due to the loss from continuing operations for the three months ended August 4, 2018, these shares are not assumed to be converted.

Note 8

Earnings Per Share, Continued



	For the Six Months Ended					For the Six Months Ended
	August 3, 2019					August 4, 2018
(In thousands, except per share amounts)	Income (Numerator)		Shares (Denominator)	Per Share Amount		Income (Numerator)		Shares (Denominator)	Per Share Amount

Earnings from continuing operations	$	7,263				$	1,831

Basic EPS from continuing operations
Income available to common
shareholders	7,263		16,802	$	0.43	1,831		19,310	$	0.09

Effect of Dilutive Securities from continuing operations
Dilutive share-based awards			103					102
Employees' preferred stock⁽¹⁾			34					36

Diluted EPS from continuing operations
Income available to common
shareholders plus assumed
conversions	$	7,263	16,939	$	0.43	$	1,831	19,448	$	0.09

⁽¹⁾ The Company's Employees' Subordinated Convertible Preferred Stock is convertible one for one to the Company's common stock. Because no dividends are paid on this stock, these shares are assumed to be converted for all periods presented.

The weighted shares outstanding reflects the effect of the Company's Board-approved share repurchase programs. The Company repurchased 1,610,705 shares for $68.1 million and 3,419,817 shares for $148.1 million for the three and six months ended August 3, 2019, respectively, as part of a $125.0 million share repurchase program approved by the Board of Directors in December 2018 and a $100.0 million share repurchase program approved by the Board of Directors in May 2019. For the third quarter of Fiscal 2020 through August 30, 2019, the Company has repurchased 857,750 shares for $30.0 million, leaving approximately $1.0 million remaining under its current $100.0 million share repurchase authorization. The Company did not repurchase any shares of common stock for the three and six months ended August 4, 2018.