Net Income Per Share and Weighted Average Shares

6 Months Ended

Feb. 01, 2013

Net Income Per Share and Weighted Average Shares [Abstract]

Net Income Per Share and Weighted Average Shares

10.           Net Income Per Share and Weighted Average Shares

Basic consolidated net income per share is computed by dividing consolidated net income available to common shareholders by the weighted average number of shares of common stock outstanding for the reporting period.  Diluted consolidated net income per share reflects the potential dilution that could occur if securities, options or other contracts to issue shares of common stock were exercised or converted into shares of common stock and is based upon the weighted average number of shares of common stock and common equivalent shares outstanding during the reporting period. Common equivalent shares related to stock options, nonvested stock awards and MSU Grants issued by the Company are calculated using the treasury stock method.  The Company's outstanding stock options, nonvested stock awards and MSU Grants issued by the Company represent the only dilutive effects on diluted consolidated net income per share.

The following table reconciles the components of diluted earnings per share computations:

	Quarter Ended				Six Months Ended
	February 1, 2013		January 27, 2012		February 1, 2013		January 27, 2012
Net income per share numerator	$	35,168	$	25,609	$	58,360	$	49,411
Net income per share denominator:
Weighted average shares		23,711,235		22,968,002		23,644,405		22,919,451
Add potential dilution:
Stock options, nonvested stock awards and MSU Grants		234,001		338,175		222,026		306,512
Diluted weighted average shares		23,945,236		23,306,177		23,866,431		23,225,963