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EARNINGS (LOSS) PER COMMON SHARE
 6 Months Ended
May. 01, 2016
Earnings Per Share [Abstract]  
EARNINGS (LOSS) PER COMMON SHARE
EARNINGS (LOSS) PER COMMON SHARE
 
Basic earnings (loss) per common share is computed by dividing net income (loss) allocated to common shares by the weighted average number of common shares outstanding. Diluted earnings per common share, if applicable, considers the dilutive effect of common stock equivalents. The reconciliation of the numerator and denominator used for the computation of basic and diluted earnings (loss) per common share is as follows (in thousands, except per share data): 
 
Fiscal Three Months Ended
 
Fiscal Six Months Ended
 
May 1,
2016
 
May 3,
2015
 
May 1,
2016
 
May 3,
2015
Numerator for Basic and Diluted Income (Loss) Per Common Share
 

 
 

 
 

 
 

Net income (loss)
$
2,420

 
$
(7,488
)
 
$
8,312

 
$
(7,808
)
Less: Net income applicable to participating securities
(23
)
 
—

 
(79
)
 
—

Net income (loss) applicable to common shares
$
2,397

 
$
(7,488
)
 
$
8,233

 
$
(7,808
)
Denominator for Basic and Diluted Income (Loss) Per Common Share
 

 
 

 
 

 
 

Weighted average basic number of common shares outstanding
72,352

 
73,133

 
72,806

 
73,102

Common stock equivalents:
 
 
 
 
 
 
 
Employee stock options
534

 
—

 
515

 
—

Restricted stock units
—

 
—

 
—

 
—

Weighted average diluted number of common shares outstanding
72,886

 
73,133

 
73,321

 
73,102

Basic income (loss) per common share
$
0.03

 
$
(0.10
)
 
$
0.11

 
$
(0.11
)
Diluted income (loss) per common share
$
0.03

 
$
(0.10
)
 
$
0.11

 
$
(0.11
)

 
We calculate earnings (loss) per share using the “two-class” method, whereby unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents are “participating securities” and, therefore, are treated as a separate class in computing earnings (loss) per share. For the three and six month periods ended May 1, 2016, undistributed earnings attributable to participating securities were approximately $0.1 million and $0.1 million, respectively. There were no amounts attributable to participating securities for the three and six month periods ended May 3, 2015, as the participating securities do not contractually share in net losses.
 
For the three and six month periods ended May 1, 2016, all PSUs and Performance Share Awards that are contingent upon the achievement of performance targets as described in Note 8 were excluded from the diluted income per common share calculation as the performance targets were not met as of May 1, 2016. Additionally, the number of weighted average options that were not included in the diluted earnings per share calculation because the effect would have been anti-dilutive represented approximately 0.1 million shares. The number of weighted average Performance Share Awards subject to continuing employment representing approximately 0.1 million shares were also determined to be anti-dilutive, and were not included in the diluted income per common share calculation. For the three and six month periods ended May 3, 2015, all outstanding options, PSUs and Performance Share Awards were anti-dilutive and, therefore, not included in the diluted loss per common share calculation.