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EARNINGS PER SHARE
 6 Months Ended
Aug. 01, 2015
EARNINGS PER SHARE  
EARNINGS PER SHARE

 

NOTE 7—EARNINGS PER SHARE

 

The following table presents the calculation of basic and diluted earnings per share for earnings from continuing operations and net earnings:

 

 

 

Thirteen Weeks Ended

 

Twenty-six Weeks Ended

 

(dollar amounts in thousands, except per share amounts)

 

August 1,
2015

 

August 2,
2014

 

August 1,
2015

 

August 2,
2014

 

 

 

 

 

 

 

 

 

 

 

 

(a)

Earnings (loss) from continuing operations

 

$
4,736

 

$
(177

)

$
16,596

 

$
1,463

 

 

 

 

 

 

 

 

 

 

 

 

 

(Loss) from discontinued operations, net of tax

 
74

 
(96

)
108

 
(125

) 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings (loss)

 

$
4,810

 

$
(273

)

$
16,704

 

$
1,338

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(b)

Basic average number of common shares outstanding during period

 
54,239

 
53,528

 
54,167

 
53,499

 

 

 

 

 

 

 

 

 

 

 

 

 

Common shares assumed issued upon exercise of dilutive stock options, net of assumed repurchase, at the average market price

 
192

 

—

 
141

 
526

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(c)

Diluted average number of common shares assumed outstanding during period

 
54,431

 
53,528

 
54,308

 
54,025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share:

 

 

 

 

 

 

 

 

 

 

Earnings from continuing operations (a/b)

 

$
0.09

 

$

—

 

$
0.31

 

$
0.03

 

 

Discontinued operations, net of tax

 

—

 

—

 

—

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share

 

$
0.09

 

$

—

 

$
0.31

 

$
0.03

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share:

 

 

 

 

 

 

 

 

 

 

Earnings from continuing operations (a/c)

 

$
0.09

 

$

—

 

$
0.31

 

$
0.03

 

 

Discontinued operations, net of tax

 

—

 

—

 

—

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted earnings per share

 

$
0.09

 

$

—

 

$
0.31

 

$
0.03

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of August 1, 2015 and August 2, 2014, respectively, there were 2,663,000 and 3,263,000 outstanding options and restricted stock units. Certain stock options were excluded from the calculation of diluted earnings per share because their exercise prices were greater than the average market price of the common shares for the periods then ended and therefore would be anti-dilutive. The total number of such shares excluded from the diluted earnings per share calculation is 1,549,000 and 3,263,000 for the thirteen weeks ended August 1, 2015 and August 2, 2014, respectively. The total number of such shares excluded from the diluted earnings per share calculation is 1,947,000 and 1,321,000 for the twenty-six weeks ended August 1, 2015 and August 2, 2014.