PER-SHARE AMOUNTS

9 Months Ended

Nov. 01, 2014

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 for each period presented:

	THIRTEEN						THIRTY-NINE
	WEEKS ENDED						WEEKS ENDED
	November 1,			November 2,			November 1,			November 2,
	2014			2013			2014			2013
Basic Loss Per Common Share
Net loss	$	(11,008	)	$	(931	)	$	(78,712	)	$	(64,895	)
Less: Income allocated to participating securities	—			—			—			—
Net loss available to common shareholders	$	(11,008	)	$	(931	)	$	(78,712	)	$	(64,895	)
Weighted average common shares outstanding	19,470,674			19,202,416			19,393,072			19,066,734
Basic loss per common share	$	(0.57	)	$	(0.05	)	$	(4.06	)	$	(3.40	)
Diluted Loss Per Common Share
Net loss	$	(11,008	)	$	(931	)	$	(78,712	)	$	(64,895	)
Less: Income allocated to participating securities	—			—			—			—
Net loss available to common shareholders	$	(11,008	)	$	(931	)	$	(78,712	)	$	(64,895	)
Weighted average common shares outstanding	19,470,674			19,202,416			19,393,072			19,066,734
Common shares issuable - stock options	—			—			—			—
Weighted average common shares outstanding assuming dilution	19,470,674			19,202,416			19,393,072			19,066,734
Diluted loss per common share	$	(0.57	)	$	(0.05	)	$	(4.06	)	$	(3.40	)

Due to the Company’s net loss position, weighted average unvested restricted shares (participating securities) of 715,140 and 857,754 for the third quarter in each of 2014 and 2013, respectively, and 710,101 and 939,333 for the 39 weeks ended November 1, 2014 and November 2, 2013, 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) totaling 197,593 and 300,523 for the third quarter in each of 2014 and 2013, respectively, and 218,184 and 388,758 for the 39 weeks ended November 1, 2014 and November 2, 2013, respectively, were excluded from the computation of diluted weighted average common shares outstanding, as their effect 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 third quarter in each of 2014 and 2013, these shares would have increased diluted weighted average common shares outstanding by 86,974 and 114,837, respectively.  Had the Company reported net income for the 39 weeks ended November 1, 2014 and November 2, 2013, these shares would have increased diluted weighted average common shares outstanding by 96,646 and 145,748, respectively.