Per-Share Amounts

6 Months Ended

Jul. 30, 2011

Per-Share Amounts [Abstract]

PER-SHARE AMOUNTS

2. PER-SHARE AMOUNTS

The following table presents a reconciliation of net loss and weighted average shares outstanding used in basic and diluted earnings (loss) per share (“EPS”) calculations for each period presented:

	THIRTEEN						TWENTY-SIX
	WEEKS ENDED						WEEKS ENDED
	July 30,			July 31,			July 30,			July 31,
	2011			2010			2011			2010
Basic Loss Per Common Share
Net loss	$	(32,300	)	$	(33,730	)	$	(68,288	)	$	(57,272	)
Less: Income allocated to participating securities		—			—			—			—
Net loss available to common shareholders	$	(32,300	)	$	(33,730	)	$	(68,288	)	$	(57,272	)
Weighted average common shares outstanding		18,109,681			17,627,530			18,026,635			17,655,268
Basic loss per common share	$	(1.78	)	$	(1.91	)	$	(3.79	)	$	(3.24	)
Diluted Loss Per Common Share
Net loss	$	(32,300	)	$	(33,730	)	$	(68,288	)	$	(57,272	)
Less: Income allocated to participating securities		—			—			—			—
Net loss available to common shareholders	$	(32,300	)	$	(33,730	)	$	(68,288	)	$	(57,272	)
Weighted average common shares outstanding		18,109,681			17,627,530			18,026,635			17,655,268
Common shares issuable — stock options		—			—			—			—
Weighted average common shares outstanding assuming dilution		18,109,681			17,627,530			18,026,635			17,655,268
Diluted loss per common share	$	(1.78	)	$	(1.91	)	$	(3.79	)	$	(3.24	)

Due to the Company’s net loss position, weighted average unvested restricted shares (participating securities) of 1,423,355 and 1,341,944 for the second quarter in each of 2011 and 2010, respectively, and 1,384,540 and 1,175,417 for the 26 weeks ended July 30, 2011 and July 31, 2010, respectively, were not considered in the calculation of net loss available to common shareholders used for both basic and diluted EPS.

In addition, weighted average stock option shares (non-participating securities) of 983,955 and 1,057,201 for the second quarter in each of 2011 and 2010, respectively, and 1,003,384 and 1,061,464 for the 26 weeks ended July 30, 2011 and July 31, 2010, respectively, were excluded from the calculation of diluted EPS as they would have been antidilutive. Certain of these stock option shares were excluded solely due to the Company’s net loss position. Had the Company reported net income for the second quarter in each of 2011 and 2010, these shares would have had an effect of 209,003 and 252,552 dilutive shares, respectively, for purposes of calculating diluted EPS. Had the Company reported net income for the 26 weeks ended July 30, 2011 and July 31, 2010, these shares would have had an effect of 263,371 and 262,905 dilutive shares, respectively, for purposes of calculating diluted EPS.