Earnings (Loss) per Share

3 Months Ended

May 02, 2020

Basic earnings (loss) per share ("EPS”) is computed by dividing net income (loss) by the basic weighted-average number of common shares outstanding for the period. Diluted EPS is calculated by considering the impact of potential common stock equivalents on the weighted-average number of common shares outstanding.

The following table sets forth a reconciliation of basic weighted-average number of common shares to diluted weighted-average number of common shares (in thousands):


	13 Weeks Ended May 2, 2020	13 Weeks Ended May 4, 2019
Basic weighted-average shares outstanding	47,456	47,111
Incremental shares from share-based compensation plans	—	445
Diluted weighted-average shares outstanding	47,456	47,556

For the 13 weeks ended May 2, 2020, there were 0.3 million shares excluded from the diluted EPS calculation because the impact of their assumed exercise would be anti-dilutive due to a net loss in that period. These shares are comprised of a mix of restricted stock awards and restricted stock units. For periods of net loss, basic and diluted EPS are the same, as the assumed conversion of stock-based awards are antidilutive.

Dilutive weighted average shares outstanding also excludes approximately 1.9 million and 2.9 million potential common stock equivalents that were out-of-the-money during the 13 weeks ended May 2, 2020 and May 4, 2019, respectively. These shares are comprised of a mix of stock options, restricted stock awards, and restricted stock units. Stock options excluded were those that had exercise prices greater than the average market price of the common shares such that inclusion would have been antidilutive. Restricted stock awards and units were shares that were antidilutive as calculated using the treasury stock method.