Earnings Per Common Share

6 Months Ended

Aug. 03, 2013

Earnings Per Share [Abstract]

Earnings Per Common Share

Earnings Per Common Share

Basic earnings per common share is computed based on the weighted average number of shares of common stock outstanding during the period.  Diluted earnings per common share is computed based on the weighted average number of shares of common stock, plus the effect of dilutive potential common shares outstanding during the period, using the treasury stock method.  Dilutive potential common shares include outstanding stock options, restricted stock and warrants.

The computations for basic and diluted earnings per common share are as follows (in thousands, except per share data): 

	13 Weeks Ended				26 Weeks Ended
	August 3, 2013		July 28, 2012		August 3, 2013		July 28, 2012
Net income	$	84,163	$	53,663	$	148,984	$	110,820
Weighted average common shares outstanding (for basic calculation)	122,901		119,928		122,802		120,721
Dilutive effect of stock-based awards	2,692		4,605		2,926		5,047
Weighted average common shares outstanding (for diluted calculation)	125,593		124,533		125,728		125,768
Earnings per common share - basic	$	0.68	$	0.45	$	1.21	$	0.92
Earnings per common share - diluted	$	0.67	$	0.43	$	1.18	$	0.88

For the 13 weeks ended August 3, 2013 and July 28, 2012, 1.1 million shares were attributable to outstanding stock-based awards that were excluded from the calculation of diluted earnings per common share because their inclusion would have been anti-dilutive.  For the 26 weeks ended August 3, 2013 and July 28, 2012, 0.9 million and 1.0 million shares, respectively, were attributable to outstanding stock-based awards that were excluded from the calculation of diluted earnings per common share because their inclusion would have been anti-dilutive.