Earnings per Share

6 Months Ended

Aug. 01, 2020

7. 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				For the six months ended
	August 1, 2020		August 3, 2019		August 1, 2020		August 3, 2019
(in thousands)
Common stock outstanding:
Basic weighted average common shares outstanding		51,078		49,867		50,918		49,734
Common stock equivalents – stock options and restricted stock ⁽¹⁾		—		308		—		—
Diluted weighted average common shares outstanding		51,078		50,175		50,918		49,734

(1)

Common stock equivalents of 178 shares and 206 shares for the three and six months ended August 1, 2020, respectively, and 415 shares for the six months ended August 3, 2019, were excluded due to the net loss in each period.

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 of the unearned compensation associated with either stock options, restricted stock units, restricted or deferred stock had an anti-dilutive effect.

	For the three months ended				For the six months ended
	August 1, 2020		August 3, 2019		August 1, 2020		August 3, 2019
(in thousands, except exercise prices)
Stock options		3,676		865		3,676		850
Restricted stock units		963		1,056		963		1,040
Restricted and deferred stock		160		85		160		63
Range of exercise prices of such options	$0.53 - $7.02		$1.85 - $7.02		$0.53 - $7.02		$2.00 - $7.02

The above options, which were outstanding at August 1, 2020, expire from January 31, 2021 to June 11, 2030.

Excluded from the computation of basic and diluted earnings per share for both periods were 720,000 shares of unvested performance stock units. 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, 327,382 shares and 242,040 shares of deferred stock at August 1, 2020 and August 3, 2019, respectively, were excluded from basic earnings per share. Outstanding shares of deferred stock are not considered issued and outstanding until the vesting date of the deferral period.