Net Earnings (Loss) Per Share (Tables)

6 Months Ended

Oct. 31, 2015

Reconciliation of Basic and Diluted Loss Per Share

The following is a reconciliation of the basic and diluted loss per share calculation:

	13 weeks ended						26 weeks ended
	October 31, 2015			November 1, 2014			October 31, 2015			November 1, 2014
Numerator for basic earnings per share:
Net income	$	33,401		$	36,951		$	6,483		$	10,738
Accretion of dividends on preferred stock	—			(443		)	—			(885		)
Less allocation of earnings and dividends to participating securities	(22		)	(944		)	(26		)	(255		)
Net income available to common shareholders	$	33,379		$	35,564		$	6,457		$	9,598
Numerator for diluted earnings per share:
Net income available to common shareholders	$	33,379		$	35,564		$	6,457		$	9,598
Accretion of dividends on preferred stock (a)	—			—			—			—
Allocation of earnings and dividends to participating securities	22			944			26			255
Less diluted allocation of earnings and dividends to participating securities	(22		)	(943		)	(26		)	(255		)
Net income available to common shareholders	$	33,379		$	35,565		$	6,457		$	9,598
Denominator for basic earnings per share:
Basic weighted average shares of Common Stock	48,207			37,505			44,816			37,471
Denominator for diluted earnings per share:
Basic weighted average shares of Common Stock	48,207			37,505			44,816			37,471
Average dilutive restricted stock units	355			—			178			—
Average dilutive options	—			39			29			33
Diluted weighted average shares of Common Stock	48,562			37,544			45,023			37,504
Earnings per share of Common Stock:
Basic	$	0.69		$	0.95		$	0.14		$	0.26
Diluted	$	0.69		$	0.95		$	0.14		$	0.26

(a) Although the Company was in a net income position for the 13 and 26 weeks ended November 1, 2014, the dilutive effect of the accretion of preferred membership interests were excluded from the calculation of earnings per share using the two-class method because the effect would be antidilutive.