Basic and Diluted Loss Per Share

6 Months Ended

Jul. 30, 2022

Basic and Diluted Loss Per Share [Abstract]

Basic and Diluted Loss Per Share

Note 12. Basic and Diluted Loss Per Share

Basic loss per share is calculated by dividing net loss by the weighted average common shares outstanding for the period. Diluted loss per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock (net of any assumed repurchases) that then shared in the earnings of the Company, if any.  It is computed by dividing net loss by the sum of the weighted average shares outstanding and additional common shares that would have been outstanding if the dilutive potential common shares had been issued for the Company’s common stock awards from the Company’s Stock Award Plans.

For the thirteen-week period ended July 30, 2022 and the twenty-six week periods ended July 30, 2022 and July 31, 2021, the impact of all outstanding stock awards was not considered because the Company reported net losses in those periods and such impact would be anti-dilutive.  Accordingly, basic and diluted loss per share was the same.  Total anti-dilutive stock awards for the twenty-six weeks ended July 31, 2021 and thirteen and twenty-six weeks ended July 30, 2022 were approximately 0.1 million shares for both periods.

For the thirteen-week period ended July 31, 2021, the dilutive effect of employee stock options was 47,207 shares.

For the thirteen-week and twenty-six periods ended July 30, 2022, the impact of all outstanding warrants was not considered because the Company reported net losses in both periods and such impact would be anti-dilutive.  Accordingly, basic and diluted loss per share was the same.  Total anti-dilutive warrants for the thirteen weeks and twenty-six week periods ended July 30, 2022 were approximately 4.6 million shares for both periods.