EARNINGS PER SHARE

3 Months Ended

May 03, 2020

EARNINGS PER SHARE

NOTE D. EARNINGS PER SHARE

Basic earnings per share is computed as net earnings divided by the weighted average number of common shares outstanding for the period. Diluted earnings per share is computed as net earnings divided by the weighted average number of common shares outstanding and common stock equivalents outstanding for the period. Common stock equivalents consist of shares subject to stock-based awards with exercise prices less than or equal to the average market price of our common stock for the period, to the extent their inclusion would be dilutive.

The following is a reconciliation of net earnings and the number of shares used in the basic and diluted earnings per share computations:

In thousands, except per share amounts	Net Earnings		Weighted Average Shares		Earnings Per Share
Thirteen weeks ended May 3, 2020
Basic	$	35,423		77,262	$	0.46
Effect of dilutive stock-based awards				1,137
Diluted	$	35,423		78,399	$	0.45
Thirteen weeks ended May 5, 2019
Basic	$	52,656		78,683	$	0.67
Effect of dilutive stock-based awards				1,184
Diluted	$	52,656		79,867	$	0.66

Stock-based awards of 8,000 and 11,000 were excluded from the computation of diluted earnings per share for the thirteen weeks ended May 3, 2020 and May 5, 2019, respectively, as their inclusion would be anti-dilutive.