Earnings Per Share

12 Months Ended

Feb. 03, 2024

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 in thousands:


	Fiscal Year Ended
	February 3, 2024 (53-weeks)		January 28, 2023 (52-weeks)		January 29, 2022 (52-weeks)
Net income	$	103,158	$	128,057	$	174,313

Weighted average number of common shares outstanding	12,364		12,951		14,993
Dilutive stock options	46		298		130
Dilutive restricted stock units	223		66		459
Weighted average number of common shares outstanding and dilutive shares	12,633		13,315		15,582

Basic earnings per share	$	8.34	$	9.89	$	11.63
Diluted earnings per share	$	8.17	$	9.62	$	11.19

In calculating diluted earnings per share, 4,384 options to purchase shares of common stock outstanding were excluded due to their anti-dilutive effect in Fiscal 2024. In calculating diluted earnings per share, no options to purchase shares of common stock outstanding were excluded due to their anti-dilutive effect in Fiscal 2023 and Fiscal 2022.

At February 3, 2024, no non-vested stock awards granted to certain employees were excluded 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 2024.