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EARNINGS PER SHARE
 6 Months Ended
Aug. 02, 2014
EARNINGS PER SHARE  
EARNINGS PER SHARE

NOTE 7—EARNINGS PER SHARE

 

The following table presents the calculation of basic and diluted earnings per share for earnings from continuing operations and net earnings:

 

 

 

Thirteen Weeks Ended

 

Twenty-six Weeks Ended

 

(dollar amounts in thousands, except per share amounts)

 

August 2,
2014

 

August 3,
2013

 

August 2,
2014

 

August 3,
2013

 

 

 

 

 

 

 

 

 

 

 

 

(a)

(Loss) earnings from continuing operations

 

$
(177

)

$
5,379

 

$
1,463

 

$
9,306

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) from discontinued operations, net of tax

 
(96

)
(11

)
(125

)
(75

)

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) earnings

 

$
(273

)

$
5,368

 

$
1,338

 

$
9,231

 

 

 

 

 

 

 

 

 

 

 

 

(b)

Basic average number of common shares outstanding during period

 
53,528

 
53,392

 
53,499

 
53,388

 

 

 

 

 

 

 

 

 

 

 

 

 

Common shares assumed issued upon exercise of dilutive stock options, net of assumed repurchase, at the average market price

 

—

 
578

 
526

 
591

 

 

 

 

 

 

 

 

 

 

 

 

(c)

Diluted average number of common shares assumed outstanding during period

 
53,528

 
53,970

 
54,025

 
53,979

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share:

 

 

 

 

 

 

 

 

 

 

Earnings from continuing operations (a/b)

 

$

—

 

$
0.10

 

$
0.03

 

$
0.17

 

 

Discontinued operations, net of tax

 

—

 

—

 

—

 

—

 

 

Basic earnings per share

 

$

—

 

$
0.10

 

$
0.03

 

$
0.17

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

Earnings from continuing operations (a/c)

 

$

—

 

$
0.10

 

$
0.03

 

$
0.17

 

 

Discontinued operations, net of tax

 

—

 

—

 

—

 

—

 

 

Diluted earnings per share

 

$

—

 

$
0.10

 

$
0.03

 

$
0.17

 

 

As of August 2, 2014 and August 3, 2013, respectively, there were 3,263,000 and 2,742,000 outstanding options and restricted stock units. Certain stock options were excluded from the calculation of diluted earnings per share because their exercise prices were greater than the average market price of the common shares for the periods then ended and therefore would be anti-dilutive. The total number of such shares excluded from the diluted earnings per share calculation is 3,263,000 and 972,000 for the thirteen weeks ended August 2, 2014 and August 3, 2013, respectively.  The total number of such shares excluded from the diluted earnings per share calculation is 1,321,000 and 1,104,000 for the twenty-six weeks ended August 2, 2014 and August 3, 2013.