EARNINGS PER SHARE

9 Months Ended

Oct. 27, 2012

EARNINGS PER SHARE

EARNINGS PER SHARE

NOTE 11 — EARNINGS PER SHARE

We calculate earnings per share under the guidance in ASC 260-10, “Earnings per Share,” which clarifies that unvested share-based payment awards that contain nonforfeitable rights to receive dividends or dividend equivalents (whether paid or unpaid) are considered participating securities, and thus, should be included in the two-class method of computing earnings per share (“EPS”).  Participating securities under this statement include our unvested employee restricted stock awards with time-based vesting, which receive nonforfeitable dividend payments.

The calculation of EPS for common stock shown below excludes the income attributable to these unvested employee restricted stock awards from the numerator and excludes the dilutive impact of these shares from the denominator.

	Thirteen Weeks Ended						Thirty-nine Weeks Ended
	October 27,			November 26,			October 27,			November 26,
	2012			2011			2012			2011
Numerator (in thousands):
Net income (loss) attributable to Christopher & Banks Corporation	$	3,583		$	(28,239	)	$	(12,026	)	$	(39,331	)
Income allocated to participating securities	(61		)	(13		)	—			(39		)
Net income (loss) available to common shareholders	$	3,522		$	(28,252	)	$	(12,026	)	$	(39,370	)
Denominator (in thousands):
Weighted average common shares outstanding - basic	35,643			35,585			35,626			35,542
Dilutive shares	387			—			—			—
Weighted average common and common equivalent shares outstanding - diluted	36,030			35,585			35,626			35,542
Net income (loss) per common share:
Basic	$	0.10		$	(0.79	)	$	(0.34	)	$	(1.11	)
Diluted	$	0.10		$	(0.79	)	$	(0.34	)	$	(1.11	)

Total stock options and restricted shares of 1.1 million 1.8 million were excluded from the shares used in the computation of diluted earnings per share for the thirteen and thirty-nine-week periods ended October 27, 2012, respectively, as they were anti-dilutive.  Total stock options and restricted shares of 2.8 million were excluded from the shares used in the computation of diluted earnings per share for the thirteen and thirty-nine-week periods ended November 26, 2011 as they were anti-dilutive.