Computation of Earnings Per Common Share (Tables)

3 Months Ended

Oct. 28, 2017

Earnings Per Share [Abstract]

Schedule of Earnings Per Share Reconciliation

The following table sets forth the computation of basic and diluted earnings per common share (dollars in thousands, except per share amounts):

	For the Three Months Ended
	October 28, 2017		October 29, 2016
Net income available to common stockholders (numerator)	$	28,776	$	51,050
Weighted-average number of common shares (denominator)	31,061,448		31,429,493
Basic earnings per common share	$	0.93	$	1.62
Weighted-average number of common shares	31,061,448		31,429,493
Potential shares of common stock arising from stock options, and unvested restricted share units(1)	830,126		770,794
Total shares-diluted (denominator)	31,891,574		32,200,287
Diluted earnings per common share	$	0.90	$	1.59

⁽¹⁾ As discussed in Note 1, Basis of Presentation and Accounting Policies, the Company has adopted ASU 2016-09. Under the amended guidance, windfalls or shortfalls are recognized in the Company’s provision for income taxes in the consolidated statements of operations rather than as additional paid-in capital in the consolidated balance sheets. Because windfalls are no longer recognized in additional paid-in capital, the amount is excluded from the hypothetical proceeds used to repurchase shares when computing diluted earnings per common share under the treasury stock method. As a result of the amended guidance, diluted shares increased by approximately 169,000 shares during the fiscal quarter ended October 28, 2017.

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The weighted-average number of common shares outstanding used in the computation of diluted earnings per common share excludes the effect of the following instruments because their inclusion would have been anti-dilutive:

	For the Three Months Ended
	October 28, 2017	October 29, 2016
Stock-based awards	125,074	41,302
0.75% convertible senior notes due 2021	5,005,734	5,005,734
Warrants	5,005,734	5,005,734
Total anti-dilutive weighted shares excluded from the calculation of earnings per common share	10,136,542	10,052,770