EARNINGS PER SHARE

12 Months Ended

Jan. 28, 2012

EARNINGS PER SHARE [Abstract]

EARNINGS PER SHARE

NOTE 4.   EARNINGS PER SHARE

The computation of basic earnings per share (EPS) is based on the number of weighted average common shares outstanding during the period.  The computation of diluted EPS is based on the weighted average number of shares outstanding plus the incremental shares that would be outstanding assuming exercise of dilutive stock options and issuance of restricted stock.  The number of incremental shares is calculated by applying the treasury stock method.  The following table sets forth the computation of basic and diluted earnings per share:

	Fiscal Year Ended
	January 28,		January 29,		January 30,
	2012		2011		2010
Net income, in thousands	$	59,060	$	46,400	$	32,549
Weighted average number of common shares outstanding		26,978,176		28,425,781		28,629,023
Dilutive stock options		176,845		264,420		281,213
Dilutive restricted stock		351,367		343,024		178,510
Weighted average number of common shares outstanding and dilutive shares		27,506,388		29,033,225		29,088,746
Basic earnings per share	$	2.19	$	1.63	$	1.14
Diluted earnings per share	$	2.15	$	1.60	$	1.12

In calculating diluted earnings per share for Fiscal 2012 and Fiscal 2011, there were no options to purchase shares of common stock outstanding as of the end of the period that were excluded in the computations of diluted earnings per share due to their anti-dilutive effect.  In calculating diluted earnings per share for Fiscal 2010, options to purchase 304,361 shares of common stock were outstanding as of the end of the period, but were not included in the computations of diluted earnings per share due to their anti-dilutive effect.

We excluded 137,800 nonvested stock awards granted to certain employees from the computation of diluted weighted average common shares and common share equivalents outstanding, because they are subject to performance-based annual vesting conditions which had not been achieved by the end of Fiscal 2012.  Assuming the performance criteria had been achieved at target as of January 28, 2012, the incremental dilutive impact would have been 65,179 shares.