Earnings (Loss) per Share (Tables)

9 Months Ended

Jan. 25, 2014

Reconciliation of Basic and Diluted Income (Loss) Per Share

The following is a reconciliation of the Company’s basic and diluted income (loss) per share calculation:

	13 weeks ended						39 weeks ended
	January 25, 2014			January 26, 2013			January 25, 2014			January 26, 2013
Numerator for basic income (loss) per share:
Net income (loss)	$	63,230			(3,683	)	$	(10,564	)		(43,010	)
Preferred stock dividends		(3,942	)		(3,942	)		(11,825	)		(11,825	)
Accretion of dividends on preferred stock		(316	)		(739	)		(947	)		(1,508	)
Less allocation of earnings and dividends to participating securities		(2,604	)		—			—			—
Net income (loss) available to common shareholders	$	56,368			(8,364	)	$	(23,336	)		(56,343	)
Numerator for diluted income (loss) per share:
Net income (loss) available to common shareholders	$	56,368			(8,364	)	$	(23,336	)		(56,343	)
Preferred stock dividends		3,942			—			—			—
Accretion of dividends on preferred stock		316			—			—			—
Allocation of earnings and dividends to participating securities		2,604			—			—			—
Less diluted allocation of earnings and dividends to participating securities		(2,338	)		—			—			—
Effect of dilutive options		—			—			—			—
Net income (loss) available to common shareholders	$	60,892			(8,364	)	$	(23,336	)		(56,343	)
Denominator for basic income (loss) per share:
Basic weighted average common shares		59,033			58,316			58,919			58,168
Denominator for diluted income (loss) per share:
Basic weighted average common shares		59,033			58,316			58,919			58,168
Preferred shares		12,000			—			—			—
Diluted weighted average common shares		71,033			58,316			58,919			58,168
Income (loss) per common share
Basic	$	0.95			(0.14	)	$	(0.40	)		(0.97	)
Diluted	$	0.86			(0.14	)	$	(0.40	)		(0.97	)