Loss Per Share

3 Months Ended

May 01, 2021

LOSS PER SHARE

In accordance with relevant accounting guidance, unvested share-based payment awards that include non-forfeitable rights to dividends, whether paid or unpaid, are considered participating securities. As a result, such awards are required to be included in the calculation of loss per common share pursuant to the "two-class" method. For the Company, participating securities are comprised entirely of unvested restricted stock awards granted prior to fiscal 2020.

Net loss per share is determined using the two-class method when it is more dilutive than the treasury stock method. Basic net loss per share is computed by dividing net loss available to common shareholders by the weighted-average number of common shares outstanding during the period, including participating securities. Diluted net loss per share reflects the dilutive effect of potential common shares from non-participating securities such as restricted stock awards granted after fiscal 2019, stock options, PSUs and restricted stock units.

The following table sets forth the computation of net loss per basic and diluted share shown on the face of the accompanying condensed consolidated statements of loss:


	Thirteen Weeks Ended
	May 1, 2021		May 2, 2020

Numerator
Net loss	$	(8,929)	$	(178,290)
Net income and dividends declared allocated to participating securities	—		(358)
Net loss available to common shareholders	$	(8,929)	$	(178,648)
Denominator
Weighted average common shares outstanding – basic	116,689,409		115,573,801
Dilutive effect of non-participating securities	—		—
Weighted average common and common equivalent shares outstanding – diluted	116,689,409		115,573,801
Net loss per common share:
Basic	$	(0.08)	$	(1.55)
Diluted	$	(0.08)	$	(1.55)

For the thirteen weeks ended May 1, 2021 and May 2, 2020, 1.2 million and 0.4 million potential shares of common stock, respectively, were excluded from the diluted loss per common share calculation relating to non-participating securities, because the effect of including these potential shares was antidilutive.