PER-SHARE AMOUNTS

3 Months Ended

Apr. 28, 2012

PER-SHARE AMOUNTS

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 in the first quarter in each of 2012 and 2011:

	THIRTEEN
	WEEKS ENDED
	April 28,			April 30,
	2012			2011
Basic Loss Per Common Share
Net loss	$	(40,780	)	$	(35,988	)
Less: Income allocated to participating securities	—			—
Net loss available to common shareholders	$	(40,780	)	$	(35,988	)
Weighted average common shares outstanding	18,287,395			17,943,590
Basic loss per common share	$	(2.23	)	$	(2.01	)
Diluted Loss Per Common Share
Net loss	$	(40,780	)	$	(35,988	)
Less: Income allocated to participating securities	—			—
Net loss available to common shareholders	$	(40,780	)	$	(35,988	)
Weighted average common shares outstanding	18,287,395			17,943,590
Common shares issuable - stock options	—			—
Weighted average common shares outstanding assuming dilution	18,287,395			17,943,590
Diluted loss per common share	$	(2.23	)	$	(2.01	)

Due to the Company’s net loss position, weighted average unvested restricted shares (participating securities) of 1,475,536 and 1,345,724 for the first quarter in each of 2012 and 2011, 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 968,943 and 1,022,812 for the first quarter in each of 2012 and 2011, 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 first quarter in each of 2012 and 2011, these shares would have had an effect of 93,769 and 317,738 dilutive shares, respectively, for purposes of calculating diluted EPS.