Earnings (Loss) Per Share

12 Months Ended

Jan. 28, 2023

Note 10. Earnings (Loss) Per Share

Basic earnings (loss) per share is calculated by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Except when the effect would be anti-dilutive, diluted earnings (loss) per share is calculated based on the weighted average number of shares of common stock outstanding plus the dilutive effect of share-based awards calculated under the treasury stock method. In periods when the Company incurs a net loss, share-based awards are excluded from the calculation of earnings per share as their inclusion would have an anti-dilutive effect.

The following is a reconciliation of weighted average basic shares to weighted average diluted shares outstanding:


	Fiscal Year
	2022		2021
Weighted-average shares—basic		12,223,004		11,902,307
Effect of dilutive equity securities		—		—
Weighted-average shares—diluted		12,223,004		11,902,307

Because the Company incurred a net loss for the fiscal years ended January 28, 2023 and January 29, 2022, weighted-average basic shares and weighted-average diluted shares outstanding are equal for these periods.