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(Loss) Income Per Share
12 Months Ended
Mar. 02, 2019
(Loss) Income Per Share  
(Loss) Income Per Share

4. (Loss) Income Per Share

Basic (loss) income per share is computed by dividing income available to common stockholders by the weighted average number of shares of common stock outstanding for the period. Diluted (loss) income 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 that then shared in the income of the Company subject to anti- dilution limitations.

 

 

 

 

 

 

 

 

 

 

 

 

 

March 2,

 

March 3,

 

March 4,

 

 

2019

 

2018

 

2017

 

 

(52 Weeks)

 

(52 Weeks)

 

(53 Weeks)

Basic and diluted (loss) income per share:

    

 

    

    

 

    

    

 

    

Numerator:

 

 

 

 

 

 

 

 

 

(Loss) income from continuing operations attributable to common stockholders—basic and diluted

 

$

(666,954)

 

$

(349,532)

 

$

4,080

Income (loss) from discontinued operations attributable to common stockholders—basic and diluted

 

 

244,741

 

 

1,293,002

 

 

(27)

(Loss) income attributable to common stockholders—basic and diluted

 

$

(422,213)

 

$

943,470

 

$

4,053

Denominator:

 

 

 

 

 

 

 

 

 

Basic weighted average shares

 

 

52,854

 

 

52,481

 

 

52,221

Outstanding options and restricted shares, net

 

 

 —

 

 

 —

 

 

820

Diluted weighted average shares

 

 

52,854

 

 

52,481

 

 

53,041

Basic (loss) income per share:

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

(12.62)

 

$

(6.66)

 

$

0.08

Discontinued operations

 

 

4.63

 

 

24.64

 

 

(0.00)

Net basic (loss) income per share

 

$

(7.99)

 

$

17.98

 

$

0.08

Diluted (loss) income per share:

 

 

 

 

 

 

 

 

 

Continuing operations

 

$

(12.62)

 

$

(6.66)

 

$

0.08

Discontinued operations

 

 

4.63

 

 

24.64

 

 

(0.00)

Net diluted (loss) income per share

 

$

(7.99)

 

$

17.98

 

$

0.08

 

Due to their antidilutive effect, 1,036, 374 and 160 potential common shares related to stock options have been excluded from the computation of diluted income per share as of March 2, 2019, March 3, 2018 and March 4, 2017, respectively. Also, excluded from the computation of diluted income per share as of March 2, 2019, March 3, 2018 and March 4, 2017 are restricted shares of 1,008,  610 and 0, respectively, which are included in shares outstanding.

On April 10, 2019, the Company’s Board of Directors approved a one-for-twenty reverse stock split of the Company’s outstanding shares of common stock. The reverse stock split was effected on April 18, 2019 at 5:00 p.m. Eastern time. At the effective time, every twenty issued and outstanding shares of the Company’s common stock were converted into one share of common stock. No fractional shares were issued in connection with the reverse stock split, and in lieu thereof, each stockholder holding fractional shares was entitled to receive a cash payment (without interest or deduction) from the Company’s transfer agent in an amount equal to such stockholder’s respective pro rata shares of the total net proceeds from the Company’s transfer agent sale of all fractional shares at the then-prevailing prices on the open market. In connection with the reverse stock split, the number of authorized shares of our common stock was also reduced on a one-for-twenty basis, from 1,500,000 to 75,000. The par value of each share of common stock remained unchanged. A proportionate adjustment was also made to the maximum number of shares issuable under the Company’s 2014 Equity Incentive Plan.