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EARNINGS (LOSS) PER COMMON SHARE
 9 Months Ended
Jul. 31, 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 Nine Months Ended
 
July 31,
2016
 
August 2,
2015
 
July 31,
2016
 
August 2,
2015
Numerator for Basic and Diluted Income (Loss) Per Common Share
 

 
 

 
 

 
 

Net income (loss)
$
23,715

 
$
7,220

 
$
32,026

 
$
(588
)
Less: Net income applicable to participating securities
(165
)
 
(60
)
 
(265
)
 
—

Net income (loss) applicable to common shares
$
23,550

 
$
7,160

 
$
31,761

 
$
(588
)
Denominator for Basic and Diluted Income (Loss) Per Common Share
 

 
 

 
 

 
 

Weighted average basic number of common shares outstanding
73,104

 
73,341

 
72,932

 
73,170

Common stock equivalents:
 
 
 
 
 
 
 
Employee stock options
441

 
650

 
528

 
—

PSUs and Performance Share Awards
7

 
345

 
—

 
—

Weighted average diluted number of common shares outstanding
73,552

 
74,336

 
73,460

 
73,170

Basic income (loss) per common share
$
0.32

 
$
0.10

 
$
0.44

 
$
(0.01
)
Diluted income (loss) per common share
$
0.32

 
$
0.10

 
$
0.43

 
$
(0.01
)

 
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. Participating securities consist of unvested restricted stock units related to our Incentive Plan. For the three and nine month periods ended July 31, 2016 and the three month period ended August 2, 2015, undistributed earnings attributable to participating securities were approximately $0.2 million, $0.3 million and $0.1 million, respectively. There was no amount attributable to participating securities for the nine month period ended August 2, 2015, as the participating securities do not contractually share in net losses.
 
For the three and nine month periods ended July 31, 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 July 31, 2016. Additionally, for the nine month period ended July 31, 2016, the number of weighted average options and Performance Share Awards that were not included in the diluted earnings per share calculations because the effect would have been anti-dilutive represented approximately 0.1 million shares.