Basic and Diluted Loss Per Share

9 Months Ended

Oct. 29, 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- and thirty-nine-week periods ended October 29, 2022 and October 30, 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 thirteen and thirty-nine weeks ended October 29, 2022 were approximately 0.1 million shares.

For the thirteen-week and thirty-nine periods ended October 29, 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- and thirty -nine week periods ended October 29, 2022 were approximately 2.9 million shares.