Earnings per share

12 Months Ended

Jul. 03, 2021

Earnings per share

Earnings per share

15. Earnings per share

	Years Ended
	July 3,		June 27,		June 29,
	2021		2020		2019
	(Thousands, except per share data)
Numerator:
Net income (loss)	$	193,114	$	(31,081)	$	176,337
Denominator:
Weighted average common shares for basic earnings per share		99,258		100,474		109,820
Net effect of dilutive stock-based compensation awards		910		—		978
Weighted average common shares for diluted earnings per share		100,168		100,474		110,798
Basic earnings (loss) per share	$	1.95	$	(0.31)	$	1.61
Diluted earnings (loss) per share	$	1.93	$	(0.31)	$	1.59
Stock options excluded from earnings per share calculation due to anti-dilutive effect		700		1,431		410

For the fiscal years ended June 27, 2020, the diluted net loss per share is the same as the basic net loss per share as the effect of all potential common shares would be anti-dilutive.