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EARNINGS PER SHARE
 9 Months Ended
Oct. 31, 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

 

Thirty-nine Weeks Ended

 

(dollar amounts in thousands, except per share amounts)

 

October 31,
2015

 

November 1,
2014

 

October 31,
2015

 

November 1,
2014

 

 

 

 

 

 

 

 

 

 

 

 

 

(a)

 

Earnings (loss) from continuing operations

 

$
1,077

 

$
(1,770

)

$
17,674

 

$
(306

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) from discontinued operations, net of tax

 
189

 
(194

)
296

 
(319

) 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss)

 

$
1,266

 

$
(1,964

)

$
17,970

 

$
(625

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(b)

 

Basic average number of common shares outstanding during period

 
54,326

 
53,590

 
54,214

 
53,533

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 
279

 

—

 
187

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(c)

 

Diluted average number of common shares assumed outstanding during period

 
54,605

 
53,590

 
54,401

 
53,533

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) from continuing operations (a/b)

 

$
0.02

 

$
(0.03

)

$
0.33

 

$

—

 

 

 

(Loss) from discontinued operations, net of tax

 

—

 

—

 

—

 
(0.01

) 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings (loss) per share

 

$
0.02

 

$
(0.03

)

$
0.33

 

$
(0.01

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

Earnings (loss) from continuing operations (a/c)

 

$
0.02

 

$
(0.03

)

$
0.33

 

$

—

 

 

 

(Loss) from discontinued operations, net of tax

 

—

 

—

 

—

 
(0.01

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings (loss) per share

 

$
0.02

 

$
(0.03

)

$
0.33

 

$
(0.01

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of October 31, 2015 and November 1, 2014, respectively, there were 2,365,000 and 2,797,000 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 1,295,000 and 2,797,000 for the thirteen weeks ended October 31, 2015 and November 1, 2014, respectively. The total number of such shares excluded from the diluted earnings per share calculation is 1,730,000 and 2,797,000 for the thirty-nine weeks ended October 31, 2015 and November 1, 2014.