PER-SHARE AMOUNTS

3 Months Ended

May 04, 2013

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 2013 and 2012:

	THIRTEEN
	WEEKS ENDED
	May 4,			April 28,
	2013			2012
Basic Loss Per Common Share
Net loss	$	(26,635	)	$	(40,780	)
Less: Income allocated to participating securities	—			—
Net loss available to common shareholders	$	(26,635	)	$	(40,780	)
Weighted average common shares outstanding	18,843,072			18,287,395
Basic loss per common share	$	(1.41	)	$	(2.23	)
Diluted Loss Per Common Share
Net loss	$	(26,635	)	$	(40,780	)
Less: Income allocated to participating securities	—			—
Net loss available to common shareholders	$	(26,635	)	$	(40,780	)
Weighted average common shares outstanding	18,843,072			18,287,395
Common shares issuable - stock options	—			—
Weighted average common shares outstanding assuming dilution	18,843,072			18,287,395
Diluted loss per common share	$	(1.41	)	$	(2.23	)

Due to the Company’s net loss position, weighted average unvested restricted shares (participating securities) of 1,051,861 and 1,475,536 for the first quarter in each of 2013 and 2012, 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 534,684 and 968,943 for the first quarter in each of 2013 and 2012, 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 2013 and 2012, these shares would have increased the weighted average common shares outstanding by 170,577 and 93,769, respectively, for purposes of calculating diluted EPS.