Earnings per share

9 Months Ended

Nov. 01, 2014

Earnings per share

5. Earnings per share

	13 weeks ended					39 weeks ended
(in millions, except per share amounts)	November 1, 2014			November 2, 2013		November 1, 2014		November 2, 2013
Net (loss) income	$	(1.3	)	$	33.6	$	153.3	$	192.8
Basic weighted average number of shares outstanding		79.9			79.9		79.9		80.4
Dilutive effect of share awards		—			0.4		0.3		0.4
Diluted weighted average number of shares outstanding		79.9			80.3		80.2		80.8
(Loss) earnings per share – basic	$	(0.02	)	$	0.42	$	1.92	$	2.40
(Loss) earnings per share – diluted	$	(0.02	)	$	0.42	$	1.91	$	2.39

The basic weighted average number of shares excludes non-vested time-based restricted shares, shares held by the Employee Stock Ownership Trust and treasury shares. Such shares are not considered outstanding and do not qualify for dividends, except for time-based restricted shares for which dividends are earned and payable by the Company subject to full vesting. The effect of excluding these shares is to reduce the average number of shares in the 13 and 39 week periods ended November 1, 2014 by 7,293,902 and 7,288,741 shares, respectively (13 and 39 week periods ended November 2, 2013: 7,287,686 and 6,833,816 shares, respectively). The calculation of fully diluted earnings per share for the 13 and 39 week periods ended November 1, 2014 excludes 525,561 and 32,504 non-vested time-based restricted shares (13 and 39 week periods ended November 2, 2013: 87,809 and 64,884 shares, respectively) on the basis that their effect on earnings per share would be anti-dilutive.