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EARNINGS PER SHARE
 9 Months Ended
Nov. 01, 2014
EARNINGS PER SHARE  
EARNINGS PER SHARE

NOTE 8—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

 

Thirty-nine Weeks Ended

 

(dollar amounts in thousands, except per share amounts)

 

November 1,
2014

 

November 2,
2013

 

November 1,
2014

 

November 2,
2013

 

 

 

 

 

 

 

 

 

 

 

 

 

(a)

 

(Loss) earnings from continuing operations

 

$
(1,770

)

$
1,013

 

$
(306

)

$
10,320

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from discontinued operations, net of tax

 
(194

)
(49

)
(319

)
(124

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) earnings

 

$
(1,964

)

$
964

 

$
(625

)

$
10,196

 

 

 

 

 

 

 

 

 

 

 

 

 

(b)

 

Basic average number of common shares outstanding during period

 
53,590

 
53,315

 
53,533

 
53,363

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

—

 
615

 

—

 
599

 

 

 

 

 

 

 

 

 

 

 

 

 

(c)

 

Diluted average number of common shares assumed outstanding during period

 
53,590

 
53,930

 
53,533

 
53,962

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic (loss) earnings per share:

 

 

 

 

 

 

 

 

 

 

 

(Loss) earnings from continuing operations (a/b)

 

$
(0.03

)

$
0.02

 

$

—

 

$
0.19

 

 

 

(Loss) from discontinued operations, net of tax

 

—

 

—

 
(0.01

)

—

 

 

 

Basic (loss) earnings per share

 

$
(0.03

)

$
0.02

 

$
(0.01

)

$
0.19

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted (loss) earnings per share:

 

 

 

 

 

 

 

 

 

 

 

(Loss) earnings from continuing operations (a/c)

 

$
(0.03

)

$
0.02

 

$

—

 

$
0.19

 

 

 

(Loss) from discontinued operations, net of tax

 

—

 

—

 
(0.01

)

—

 

 

 

Diluted (loss) earnings per share

 

$
(0.03

)

$
0.02

 

$
(0.01

)

$
0.19

 

 

As of November 1, 2014 and November 2, 2013, respectively, there were 2,797,000 and 2,572,000 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 2,797,000 and 824,000 for the thirteen weeks ended November 1, 2014 and November 2, 2013, respectively. The total number of such shares excluded from the diluted earnings per share calculation is 2,797,000 and 1,011,000 for the thirty-nine weeks ended November 1, 2014 and November 2, 2013.