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EARNINGS PER SHARE
 3 Months Ended
May 02, 2015
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

 

(dollar amounts in thousands, except per share amounts)

 

May 2,
2015

 

May 3,
2014

 

 

 

 

 

 

 

(a)

Earnings from continuing operations

 

$
11,859

 

$
1,637

 

 

 

 

 

 

 

 

 

Gain (loss) from discontinued operations, net of tax

 
34

 
(29

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings

 

$
11,893

 

$
1,608

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(b)

Basic average number of common shares outstanding during period

 
54,094

 
53,470

 

 

 

 

 

 

 

 

 

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

 
90

 
539

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(c)

Diluted average number of common shares assumed outstanding during period

 
54,184

 
54,009

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share:

 

 

 

 

 

 

Earnings from continuing operations (a/b)

 

$
0.22

 

$
0.03

 

 

Discontinued operations, net of tax

 

—

 

—

 

 

 

 

 

 

 

 

 

Basic earnings per share

 

$
0.22

 

$
0.03

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share:

 

 

 

 

 

 

Earnings from continuing operations (a/c)

 

$
0.22

 

$
0.03

 

 

Discontinued operations, net of tax

 

—

 

—

 

 

 

 

 

 

 

 

 

Diluted earnings per share

 

$
0.22

 

$
0.03

 

 

 

 

 

 

 

 

 

 

 

As of May 2, 2015 and May 3, 2014, respectively, there were 2,965,000 and 3,501,000 outstanding options, restricted stock units and performance share 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 options, restricted stock units and performance share units excluded from the diluted earnings per share calculation is 2,346,000 and 1,255,000 for the thirteen weeks ended May 2, 2015 and May 3, 2014, respectively.