Net income per share: basic & diluted

3 Months Ended

Jan. 28, 2012

Earnings Per Share

Earnings Per Share [Text Block]

4.           The Company computes net income per share using the two-class method,  an earnings allocation formula that calculates basic and diluted net income per share for each class of common stock separately based on dividends declared and participation rights in undistributed earnings.  Under the two-class method, our Class A common stock is assumed to receive a 54% greater participation in undistributed earnings than our Class B common stock, in accordance with the classes respective dividend rights.

  Diluted net income per share for Class A common stock is calculated utilizing the if-converted method, which assumes the conversion of all shares of Class B common stock to shares of Class A common stock on a share-for-share basis, as this method is more dilutive than the two-class method.   Diluted net income per share for Class B common stock does not assume conversion of Class B common stock to shares of Class A common stock.

The tables below reconcile the numerators and denominators of basic and diluted net income per share for all periods presented.

	13 Weeks Ended					26 Weeks Ended
	January 28, 2012
	Class A		Class B			Class A		Class B
Numerator:
Net income allocated, basic	$	5,613	$	3,299		$	9,741	$	5,734
Conversion of Class B to Class A shares		3,299		-			5,734		-
Effect of share-based compensation on allocated net income		27		(18	)		51		(28	)
Net income allocated, diluted	$	8,939	$	3,281		$	15,526	$	5,706
Denominator:
Weighted average shares outstanding, basic		7,030		6,362			7,023		6,367
Conversion of Class B to Class A shares		6,362		-			6,367		-
Dilutive effect of share-based compensation		90		-			75		-
Weighted average shares outstanding, diluted		13,482		6,362			13,465		6,367
	13 Weeks Ended					26 Weeks Ended
	January 29, 2011
	Class A		Class B			Class A		Class B
Numerator:
Net income allocated, basic	$	4,017	$	2,447		$	6,403	$	3,905
Conversion of Class B to Class A shares		2,447		-			3,905		-
Effect of share-based compensation on allocated net income		-		-			-		-
Net income allocated, diluted	$	6,464	$	2,447		$	10,308	$	3,905
Denominator:
Weighted average shares outstanding, basic		6,799		6,376			6,788		6,376
Conversion of Class B to Class A shares		6,376		-			6,376		-
Dilutive effect of share-based compensation		138		-			122		-
Weighted average shares outstanding, diluted		13,313		6,376			13,286		6,376

Outstanding stock options to purchase Class A shares of 240 and 4 were excluded from the calculation of diluted net income per share at January 28, 2012 and January 29, 2011, respectively, as a result of their anti-dilutive effect.  In addition, 296 and 256 non-vested restricted Class A shares, which are considered participating securities, and their allocated net income were excluded from the diluted net income per share calculation at January 28, 2012 and January 29, 2011, respectively, due to their anti-dilutive effect.