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Earnings per Share
 3 Months Ended
May 03, 2014
Earnings Per Share [Abstract]  
Earnings per Share
6.            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. For the thirteen weeks ended May 3, 2014 and May 4, 2013, 174,965 and 457,722 shares, respectively, were attributable to stock options, SARs and non-vested stock grants that would have been considered dilutive securities but were excluded from the calculation of diluted earnings per share because the effect was anti-dilutive due to the net loss for the reported periods.

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 have been calculated under the two-class method.


The following tables show the computation of basic and diluted earnings per share from continuing operations for each period (in thousands, except per share amounts):
 
Thirteen Weeks Ended
 
May 3, 2014
 
May 4, 2013
Basic EPS from continuing operations:
 
 
 
Loss from continuing operations
$
(12,046
)
 
$
(6,188
)
Less: Allocation of earnings to participating securities
—

 
—

Net loss from continuing operations allocated to common shares
(12,046
)
 
(6,188
)
 
 
 
 
Basic weighted average shares outstanding
31,492

 
32,306

Basic EPS from continuing operations
$
(0.38
)
 
$
(0.19
)
 
 
 
 
 
Thirteen Weeks Ended
 
May 3, 2014
 
May 4, 2013
Diluted EPS from continuing operations:
 

 
 

Loss from continuing operations
$
(12,046
)
 
$
(6,188
)
Less: Allocation of earnings to participating securities
—

 
—

Net loss from continuing operations allocated to common shares
(12,046
)
 
(6,188
)
 
 
 
 
Basic weighted average shares outstanding
31,492

 
32,306

Add: Dilutive effect of stock awards
—

 
—

Diluted weighted average shares outstanding
31,492

 
32,306

Diluted EPS from continuing operations
$
(0.38
)
 
$
(0.19
)

 
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):
 
Thirteen Weeks Ended
 
May 3, 2014
 
May 4, 2013
Number of anti-dilutive stock options and SARs outstanding
79

 
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