Earnings per Share

9 Months Ended

Oct. 29, 2011

Earnings per Share [Abstract]

Earnings per Share

4.           Earnings per Share

Basic earnings per share is computed using the weighted average number of common shares outstanding during the measurement period.  Diluted earnings per share is computed using the weighted average number of common shares outstanding and all potentially dilutive common share equivalents outstanding during the measurement period.  For the thirteen weeks and thirty-nine weeks ended October 29, 2011, 301,000 shares and 412,000 shares, respectively, and 234,000 shares for the thirteen weeks ended October 30, 2010, attributable to stock options, SARs and non-vested stock grants would have been considered dilutive securities but were excluded from the calculation of diluted earnings per share because the effect was anti-dilutive due to the net loss for the reported periods.  The following table summarizes the components used to determine total diluted weighted average shares outstanding (in thousands):

	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
	October 29, 2011		October 30, 2010		October 29, 2011		October 30, 2010
Basic weighted average shares outstanding		31,139		37,362		33,885		37,998
Effect of dilutive securities:
Stock options, SARs and non-vested stock grants		-		-		-		320
Diluted weighted average shares outstanding		31,139		37,362		33,885		38,318

The following table illustrates the number of stock options and SARs that were outstanding, but not included in the computation of diluted earnings per share because the exercise price of the stock options and SARs was greater than the average market price of the Company’s common shares (in thousands):

	Thirteen Weeks Ended				Thirty-Nine Weeks Ended
	October 29, 2011		October 30, 2010		October 29, 2011		October 30, 2010
Number of anti-dilutive stock options and SARs outstanding		2,994		3,115		1,800		2,888