Equity and Earnings per Share

3 Months Ended

May 04, 2024

Earnings Per Share [Abstract]

Equity and Earnings per Share

7. Equity and Earnings per Share

The following table provides a reconciliation of the number of shares outstanding for basic and diluted earnings per share:

	For the three months ended
	May 4, 2024		April 29, 2023
(in thousands)
Common stock outstanding:
Basic weighted average common shares outstanding		58,036		62,690
Common stock equivalents – stock options, restricted stock units and deferred stock		2,927		3,626
Diluted weighted average common shares outstanding		60,963		66,316

The following potential common stock equivalents were excluded from the computation of diluted earnings per share in each period, because the exercise price of such options was greater than the average market price per share of common stock for the respective periods or because the unearned compensation associated with stock options or restricted stock units had an anti-dilutive effect.

	For the three months ended
	May 4, 2024		April 29, 2023
(in thousands, except exercise prices)
Stock options		73		17
Restricted stock units and deferred stock		545		9
Range of exercise prices of such options	$4.48-$6.59		$4.48 - $7.43

The above options, which were outstanding at May 4, 2024, expire from June 1, 2024 to March 20, 2033.

Excluded from the computation of basic and diluted earnings per share were 573,000 shares for the first quarter of fiscal 2024. These performance-based awards will be included in the computation of basic and diluted earnings per share if, and when, the respective performance targets are achieved. In addition, 444,281 shares and 435,568 shares of deferred stock at May 4, 2024 and April 29, 2023, respectively, were excluded from the computation of basic earnings per share. Shares of deferred stock are not considered issued and outstanding until the vesting date of the deferral period.