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EARNINGS PER SHARE
 12 Months Ended
Feb. 01, 2014
Earnings Per Share [Abstract]  
Earnings per Share
NOTE 3- EARNINGS PER SHARE

Basic earnings per share is computed using the weighted average number of common shares outstanding during the measurement period.  Diluted earnings per share is computed using the weighted average number of common shares as well as all potentially dilutive common share equivalents outstanding during the measurement period.

Under Accounting Standards Codification ("ASC") 260-10, Earnings Per Share, non-vested stock grants that contain non-forfeitable rights to dividends or dividend equivalents are considered participating securities and are included in the calculation of basic and diluted earnings per share pursuant to the two-class method.  The two-class method determines earnings per share for each class of common stock and participating securities according to dividends or dividend equivalents and their respective participation rights in undistributed earnings.  Earnings per share ("EPS") has been calculated under the two-class method.

The following tables show the computation of basic and diluted earnings per share for each period (in thousands, except per share amounts):
 
 
Fiscal Year
 
2013
 
2012
 
2011
Basic EPS:
 
 
 
 
 
Net Income
$
16,642

 
$
38,179

 
$
30,960

Less: Allocation of earnings to participating securities
(232
)
 
(541
)
 
(375
)
Net income allocated to common shares
16,410

 
37,638

 
30,585

 
 
 
 
 
 
Basic weighted average shares outstanding
32,034

 
31,278

 
33,021

Basic EPS
$
0.51

 
$
1.20

 
$
0.93

 
 
 
 
 
 
 
 
 
 
 
 
 
Fiscal Year
 
2013
 
2012
 
2011
Diluted EPS:
 

 
 

 
 

Net Income
$
16,642

 
$
38,179

 
$
30,960

Less: Allocation of earnings to participating securities
(232
)
 
(537
)
 
(373
)
Net income allocated to common shares
16,410

 
37,642

 
30,587

 
 
 
 
 
 
Basic weighted average shares outstanding
32,034

 
31,278

 
33,021

Add: Dilutive effect of stock awards
277

 
322

 
257

Diluted weighted average shares outstanding
32,311

 
31,600

 
33,278

Diluted EPS
$
0.51

 
$
1.19

 
$
0.92


 
The following table illustrates the number of stock options and SARs that were outstanding, but not included in the computation of diluted earnings per share because the exercise price of the stock options and SARs was greater than the average market price of the Company's common shares (in thousands):
 
 
Fiscal Year
 
2013
 
2012
 
2011
Number of anti-dilutive stock options and SARs outstanding
414

 
329

 
1,910