PER-SHARE AMOUNTS

3 Months Ended

May 02, 2015

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
	WEEKS ENDED
	May 2,			May 3,
	2015			2014
Basic Loss Per Common Share
Net loss	$	(34,074	)	$	(31,512	)
Less: Income allocated to participating securities	—			—
Net loss available to common shareholders	$	(34,074	)	$	(31,512	)
Weighted average common shares outstanding	19,561,610			19,281,718
Basic loss per common share	$	(1.74	)	$	(1.63	)
Diluted Loss Per Common Share
Net loss	$	(34,074	)	$	(31,512	)
Less: Income allocated to participating securities	—			—
Net loss available to common shareholders	$	(34,074	)	$	(31,512	)
Weighted average common shares outstanding	19,561,610			19,281,718
Common shares issuable - stock options	—			—
Weighted average common shares outstanding assuming dilution	19,561,610			19,281,718
Diluted loss per common share	$	(1.74	)	$	(1.63	)

Due to the Company’s net loss position, weighted average unvested restricted shares (participating securities) of 708,961 and 729,534 for the first quarter in each of 2015 and 2014, 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 110,196 and 256,008 for the first quarter in each of 2015 and 2014, 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 first quarter in each of 2015 and 2014, these shares would have increased diluted weighted average common shares outstanding by 16,790 and 103,150, respectively.