Earnings Per Share

9 Months Ended

Oct. 30, 2015

EARNINGS PER SHARE

The numerator for both basic and diluted EPS is net income. The denominator for basic EPS is based upon the number of weighted average shares of Lands’ End common stock outstanding during the reporting periods. The denominator for diluted EPS is based upon the number of weighted average shares of Lands' End common stock and common stock equivalents outstanding during the reporting periods using the treasury stock method in accordance with the FASB ASC. For periods ended April 4, 2014 and prior, basic and diluted earnings per share are computed using the number of shares of Lands’ End common stock outstanding on April 4, 2014, the date on which the Lands’ End common stock was distributed to the shareholders of Sears Holdings Corporation.

The following table summarizes the components of basic and diluted earnings per share:



	13 Weeks Ended				39 Weeks Ended
(in thousands, except per share amounts)	October 30, 2015		October 31, 2014		October 30, 2015		October 31, 2014
Net income	$	10,725	$	17,991	$	19,910	$	40,704

Basic weighted average shares outstanding	31,991		31,957		31,975		31,957
Dilutive effect of stock awards	68		14		67		8
Diluted weighted average shares outstanding	32,059		31,971		32,042		31,965

Basic earnings per share	$	0.34	$	0.56	$	0.62	$	1.27
Diluted earnings per share	$	0.33	$	0.56	$	0.62	$	1.27

Anti-dilutive stock awards are comprised of awards which are anti-dilutive in the application of the treasury stock method and are excluded from the diluted weighted average shares outstanding. Total anti-dilutive stock awards were 129 and 126,602 shares for the Third Quarter 2015 and Year to Date 2015, respectively. There were no anti-dilutive stock awards for the Third Quarter 2014 and Year to Date 2014.