(Loss) Income Per Share

12 Months Ended

Feb. 29, 2020

Income (Loss) Per Share

(Loss) Income Per Share

4. (Loss) Income Per Share

Basic (loss) income per share is computed by dividing income available to common stockholders by the weighted average number of shares of common stock outstanding for the period. Diluted (loss) income per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the income of the Company subject to anti- dilution limitations.

	February 29,		March 2,		March 3,
	2020		2019		2018
	(52 Weeks)		(52 Weeks)		(52 Weeks)
Basic and diluted (loss) income per share:
Numerator:
Net loss from continuing operations	$	(469,219)	$	(666,954)	$	(349,532)
Net income from discontinued operations		17,045		244,741		1,293,002
(Loss) income attributable to common stockholders— basic and diluted	$	(452,174)	$	(422,213)	$	943,470
Denominator:
Basic weighted average shares		53,228		52,854		52,481
Outstanding options and restricted shares, net		—		—		—
Diluted weighted average shares		53,228		52,854		52,481
Basic and diluted (loss) income per share:
Continuing operations	$	(8.82)	$	(12.62)	$	(6.66)
Discontinued operations		0.32		4.63		24.64
Net basic and diluted (loss) income per share	$	(8.50)	$	(7.99)	$	17.98

Due to their antidilutive effect, 1,295, 1,036 and 374 potential common shares related to stock options have been excluded from the computation of diluted income per share as of February 29, 2020, March 2, 2019 and March 3, 2018, respectively. Also, excluded from the computation of diluted income per share as of February 29, 2020, March 2, 2019 and March 3, 2018 are restricted shares of 1,253, 1,008 and 610, respectively, which are included in shares outstanding.

On April 10, 2019, the Company’s Board of Directors approved a one-for-twenty reverse stock split of the Company’s outstanding shares of common stock. The reverse stock split was effected on April 18, 2019 at 5:00 p.m. Eastern time. At the effective time, every twenty issued and outstanding shares of the Company’s common stock were converted into one share of common stock. No fractional shares were issued in connection with the reverse stock split, and in lieu thereof, each stockholder holding fractional shares was entitled to receive a cash payment (without interest or deduction) from the Company’s transfer agent in an amount equal to such stockholder’s respective pro rata shares of the total net proceeds from the Company’s transfer agent sale of all fractional shares at the then-prevailing prices on the open market. In connection with the reverse stock split, the number of authorized shares of our common stock was also reduced on a one-for-twenty basis, from 1,500,000 to 75,000. The par value of each share of common stock remained

unchanged. A proportionate adjustment was also made to the maximum number of shares issuable under the Company’s 2014 Equity Incentive Plan.