Earnings (Loss) Per Share

6 Months Ended

Jul. 11, 2020

Earnings Per Share [Abstract]

Earnings (Loss) Per Share

Note 12 – Earnings (Loss) Per Share

Outstanding nonvested restricted stock awards under the 2015 Plan contain nonforfeitable rights to dividends or dividend equivalents, which participate in undistributed earnings with common stock. These awards are classified as participating securities and are included in the calculation of basic earnings per share. Awards under the 2020 Plan do not contain nonforfeitable rights to dividends or dividend equivalents and are therefore not classified as participating securities. The dilutive impact of these awards is presented below, as applicable. The following table sets forth the computation of basic and diluted earnings per share from continuing operations:

	12 Weeks Ended						28 Weeks Ended
(In thousands, except per share amounts)	July 11, 2020			July 13, 2019			July 11, 2020			July 13, 2019
Numerator:
Earnings (loss) from continuing operations	$	28,467		$	(6,767	)	$	43,869		$	754
Adjustment for earnings (loss) attributable to participating securities		(670	)		172			(1,070	)		(19	)
Earnings (loss) from continuing operations used in calculating earnings per share	$	27,797		$	(6,595	)	$	42,799		$	735
Denominator:
Weighted average shares outstanding, including participating securities		35,706			36,323			35,972			36,208
Adjustment for participating securities		(840	)		(921	)		(877	)		(897	)
Shares used in calculating basic earnings per share		34,866			35,402			35,095			35,311
Effect of dilutive restricted stock awards		1			—			—			—
Shares used in calculating diluted earnings per share		34,867			35,402			35,095			35,311
Basic earnings (loss) per share from continuing operations	$	0.80		$	(0.19	)	$	1.22		$	0.02
Diluted earnings (loss) per share from continuing operations	$	0.80		$	(0.19	)	$	1.22		$	0.02