Earnings Per Share

4 Months Ended

Apr. 23, 2022

Earnings Per Share [Abstract]

Earnings Per Share

Note 11 – Earnings Per Share

Outstanding nonvested restricted stock awards under the 2015 Stock Incentive 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 Stock Incentive Plan do not contain nonforfeitable rights to dividends or dividend equivalents and are therefore not classified as participating securities. The dilutive impact of both the restricted stock awards and warrants are presented below, as applicable. The following table sets forth the computation of basic and diluted net earnings per share:

	16 Weeks Ended
(In thousands, except per share amounts)	April 23, 2022			April 24, 2021
Numerator:
Net earnings	$	19,289		$	19,516
Adjustment for earnings attributable to participating securities		(273	)		(426	)
Net earnings used in calculating earnings per share	$	19,016		$	19,090
Denominator:
Weighted average shares outstanding, including participating securities		35,566			35,765
Adjustment for participating securities		(504	)		(781	)
Shares used in calculating basic earnings per share		35,062			34,984
Effect of dilutive stock warrant		648			86
Effect of dilutive restricted stock awards		168			25
Shares used in calculating diluted earnings per share		35,878			35,095
Basic earnings per share	$	0.54		$	0.55
Diluted earnings per share	$	0.53		$	0.54