Earnings (Loss) Per Share

3 Months Ended

May 01, 2021

Earnings (Loss) Per Share

Earnings (Loss) Per Share

Note 4    Earnings (Loss) Per Share

The Company uses the two-class method to compute basic and diluted earnings (loss) per common share attributable to Caleres, Inc. shareholders. In periods of net loss, no effect is given to the Company’s participating securities since they do not contractually participate in the losses of the Company. The following table sets forth the computation of basic and diluted earnings (loss) per common share attributable to Caleres, Inc. shareholders for the periods ended May 1, 2021 and May 2, 2020:

	Thirteen Weeks Ended
($ thousands, except per share amounts)	May 1, 2021		May 2, 2020
NUMERATOR
Net earnings (loss)	$	6,385	$	(346,172)
Net (earnings) loss attributable to noncontrolling interests		(238)		334
Net earnings (loss) attributable to Caleres, Inc.	$	6,147	$	(345,838)
Net earnings allocated to participating securities		(210)		—
Net earnings (loss) attributable to Caleres, Inc. after allocation of earnings to participating securities	$	5,937	$	(345,838)
DENOMINATOR
Denominator for basic earnings (loss) per common share attributable to Caleres, Inc. shareholders		36,707		38,649
Dilutive effect of share-based awards		158		—
Denominator for diluted earnings (loss) per common share attributable to Caleres, Inc. shareholders		36,865		38,649
Basic earnings (loss) per common share attributable to Caleres, Inc. shareholders	$	0.16	$	(8.95)
Diluted earnings (loss) per common share attributable to Caleres, Inc. shareholders	$	0.16	$	(8.95)

Options to purchase 16,667 and 22,667 shares of common stock for the thirteen weeks ended May 1, 2021 and May 2, 2020, respectively, were not included in the denominator for diluted earnings (loss) per common share attributable to Caleres, Inc. shareholders because the effect would be anti-dilutive.

During the thirteen weeks ended May 1, 2021 and May 2, 2020, the Company repurchased zero and 1,510,888 shares, respectively, under the 2018 and 2019 publicly announced share repurchase programs, which permits repurchases of up to 2.5 million and 5.0 million shares, respectively.  Refer to further discussion in Item 2, Unregistered Sales of Equity Securities and Use of Proceeds.