Equity and Earnings per Share

6 Months Ended

Aug. 03, 2024

7. Equity and Earnings per Share

The following table provides a reconciliation of the number of shares outstanding for basic and diluted earnings per share:


	For the three months ended				For the six months ended
	August 3, 2024		July 29, 2023		August 3, 2024		July 29, 2023
(in thousands)
Common stock outstanding:
Basic weighted average common shares outstanding		58,233		61,977		58,135		62,334
Common stock equivalents – stock options, restricted stock units and deferred stock		2,884		3,472		2,900		3,495
Diluted weighted average common shares outstanding		61,117		65,449		61,035		65,829

The following potential common stock equivalents were excluded from the computation of diluted earnings per share in each period, because the exercise price of such options was greater than the average market price per share of common stock for the respective periods or because the unearned compensation associated with stock options or restricted stock units had an anti-dilutive effect.


	For the three months ended				For the six months ended
	August 3, 2024		July 29, 2023		August 3, 2024		July 29, 2023
(in thousands, except exercise prices)
Stock options		36		100		36		100
Restricted stock units and deferred stock		350		179		363		24
Range of exercise prices of such options	$4.48-$6.59		$4.48 - $6.59		$4.48 - $6.59		$4.48 - $6.59

The above options, which were outstanding at August 3, 2024, expire from November 10, 2024 to March 20, 2033.

Excluded from the computation of basic and diluted earnings per share were 573,000 shares for the first three and six months of fiscal 2024. These performance-based awards will be included in the computation of basic and diluted earnings per share if, and when, the respective performance targets are achieved. In addition, 455,469 shares and 435,568 shares of deferred stock at August 3, 2024 and July 29, 2023, respectively, were excluded from the computation of basic earnings per share. Shares of deferred stock are not considered issued and outstanding until the vesting date of the deferral period.