Earnings (Loss) Per Share

12 Months Ended

Jan. 28, 2023

The computation of basic and diluted net earnings (loss) per common share attributable to common stockholders is (in thousands, except per share data):


	Year Ended
	Jan 28, 2023		Jan 29, 2022		Jan 30, 2021
Net earnings (loss) attributable to Guess?, Inc.	$	149,610	$	171,363	$	(81,229)
Less net earnings attributable to nonvested restricted stockholders	1,405		1,831		181
Net earnings (loss) attributable to common stockholders	148,205		169,532		(81,410)
Add interest expense related to the Notes	4,896		—		—
Net earnings (loss) attributable to common stockholders used in diluted computations	$	153,101	$	169,532	$	(81,410)

Weighted average common shares used in basic computations	56,484		64,021		64,179
Effect of dilutive securities:
Stock options and restricted stock units1	1,639		1,898		—
The Notes	11,964		—		—
Weighted average common shares used in diluted computations	70,087		65,919		64,179
Net earnings (loss) per common share attributable to common stockholders:
Basic	$	2.62	$	2.65	$	(1.27)
Diluted	$	2.18	$	2.57	$	(1.27)

______________________________________________________________________

1For fiscal 2021, there were 867,704 potentially dilutive shares that were not included in the computation of diluted weighted average common shares and common equivalent shares outstanding because their effect would have been antidilutive given the Company’s net loss.

For fiscal 2023, fiscal 2022 and fiscal 2021, equity awards granted for 1,240,937, 562,876 and 2,870,479, respectively, of the Company’s common shares were outstanding but were excluded from the computation of diluted weighted average common shares and common equivalent shares outstanding because the assumed proceeds, as calculated under the treasury stock method, resulted in these awards being antidilutive. The Company excluded 484,365 and 300,000 nonvested stock units which were subject to the achievement of performance-based or market-based vesting conditions from the computation of diluted weighted average common shares and common equivalent shares outstanding because these conditions were not achieved as of January 28, 2023 and January 29, 2022, respectively. There were no nonvested stock units subject to the achievement of performance-based or market-based vesting conditions that were excluded from the computation of diluted weighted average common shares and common equivalent shares outstanding as the respective conditions were achieved as of January 30, 2021.

Warrants to purchase 11.6 million shares of the Company’s common shares at an initial strike price of $46.88 per share were outstanding as of January 28, 2023 but were excluded from the computation of diluted earnings per share since the warrants’ strike price was greater than the average market price of the Company’s common stock during the period. See Note 10 for more information regarding the Notes.