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Net Income (Loss) Per Share
 3 Months Ended
May 04, 2013
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share
Net Income (Loss) Per Share
Net income (loss) per share, basic, is computed based on the weighted-average number of common shares outstanding for the period, including consideration of the two-class method with respect to certain of the Company’s other equity securities (see below). Net income (loss) per share, diluted, is computed based on the weighted-average number of common and potentially dilutive common equivalent shares outstanding for the period, also with consideration given to the two-class method.
While the Company historically has paid no cash dividends, participants in the Company’s equity compensation plans who were granted restricted stock and performance shares are allowed to receive cash dividends paid on unvested restricted stock and unvested performance shares. The Company’s unvested restricted stock and unvested performance shares also qualify as participating securities and are included in the computation of earnings per share pursuant to the two-class method. Restricted stock units and performance stock units are not participating securities. For the dilutive computation, under the two-class method, determination of whether the unvested share-based payment awards are dilutive is based on the application of the “treasury stock” method and whether the performance criteria has been met. For the 13 weeks ended April 28, 2012, the Company incurred a net loss and there was no dilutive effect of any unvested share-based payment awards.
The two-class method requires allocation of undistributed earnings per share between the common stock and unvested share-based payment awards based on the dividend and other distribution participation rights under each of these securities.

The following table summarizes the allocation of undistributed earnings among common stock and other participating securities using the two-class method and reconciles the weighted average common shares used in the computation of basic and diluted earnings per share (in thousands, except share data):
 
 
13 Weeks Ended
 
May 4, 2013
 
April 28, 2012
 
Net Income
 
Shares
 
Per Share
Amount
 
Net Loss
 
Shares
 
Per Share
Amount
Net income (loss) per share, basic:
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
$
3,110

 
 
 
 
 
$
(273
)
 
 
 
 
Less: Undistributed earnings allocable to participating securities
(31
)
 
 
 
 
 
—

 
 
 
 
Net income (loss) per share, basic
$
3,079

 
88,501,179

 
$
0.03

 
$
(273
)
 
88,486,977

 
$ (0.00)
Net income (loss) per share, diluted:
 
 
 
 
 
 
 
 
 
 
 
Net income (loss)
$
3,110

 
 
 
 
 
$
(273
)
 
 
 
 
Less: Undistributed earnings allocable to participating securities
(31
)
 
 
 
 
 
—

 
 
 
 
Effect of dilutive securities
 
 
2,228

 
 
 
 
 
—

 
 
Net income (loss) per share, diluted
$
3,079

 
88,503,407

 
$
0.03

 
$
(273
)
 
88,486,977

 
$ (0.00)

The computations of net income (loss) per share, diluted, excluded the following potentially dilutive securities exercisable into Class A common stock for the 13 weeks ended May 4, 2013, and April 28, 2012, respectively, because their effect would not have been dilutive.
 
 
13 Weeks Ended
 
May 4, 2013
 
April 28, 2012
Stock options outstanding
1,116,264

 
3,216,217

Unvested performance shares and restricted stock awards
977,322

 
2,077,361

Total
2,093,586

 
5,293,578