NET INCOME PER COMMON SHARE

3 Months Ended

Apr. 29, 2012

Notes to Financial Statements [Abstract]

NET INCOME PER COMMON SHARE

NET INCOME PER COMMON SHARE

The Company utilizes the two-class method of calculating basic net income per common share, as holders of the Company’s Series A convertible preferred stock participate in dividends with holders of the Company’s common stock. Net losses are not allocated to holders of the Series A convertible preferred stock.

The Company computed its basic and diluted net income per common share as follows:

	Thirteen Weeks Ended
	4/29/12			5/1/11
Net income	$	93,114		$	57,667
Less:
Common stock dividends paid to holders of Series A convertible preferred stock	(209		)	(314		)
Allocation of income to Series A convertible preferred stock	(4,231		)	(3,088		)
Net income available to common stockholders for basic net income per common share	88,674			54,265
Add back:
Common stock dividends paid to holders of Series A convertible preferred stock	209			314
Allocation of income to Series A convertible preferred stock	4,231			3,088
Net income available to common stockholders for diluted net income per common share	$	93,114		$	57,667
Weighted average common shares outstanding for basic net income per common share	68,539			66,798
Weighted average impact of dilutive securities	1,588			1,605
Weighted average impact of assumed convertible preferred stock conversion	3,475			4,189
Total shares for diluted net income per common share	73,602			72,592
Basic net income per common share	$	1.29		$	0.81
Diluted net income per common share	$	1.27		$	0.79

Potentially dilutive securities excluded from the calculation of diluted net income per common share were as follows:

	Thirteen Weeks Ended
	4/29/12	5/1/11
Weighted average potentially dilutive securities	254	245

Contingently issuable shares that have not met the necessary conditions as of the end of a reporting period are not included in the calculation of diluted net income per common share for that period. The Company had contingently issuable awards outstanding that did not meet the performance conditions as of April 29, 2012 and May 1, 2011 and, therefore, were excluded from the calculation of diluted net income per common share for the thirteen weeks endedApril 29, 2012 and May 1, 2011. The maximum number of potentially dilutive shares that could be issued upon vesting for such awards was 686 and 696 as of April 29, 2012 and May 1, 2011, respectively. These amounts were also excluded from the computation of weighted average antidilutive securities.