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Earnings Per Share
 6 Months Ended
Aug. 02, 2014
Earnings Per Share [Abstract]  
Earnings Per Share

5. Earnings Per Share

We calculate earnings per common share (“EPS”) using the two-class method. Unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) are participating securities and are included in the computation of EPS. Our restricted stock awards in 2013 and prior are considered “participating securities” because they contain non-forfeitable rights to dividends.

The following table presents the calculation of basic and diluted EPS (shares in thousands):

 

     13 Weeks Ended
August 2, 2014		      13 Weeks Ended
August 3, 2013		      26 Weeks Ended
August 2, 2014		      26 Weeks Ended
August 3, 2013		  

Basic Earnings Per Common Share:

            

Net income

    $ 1,737       $ 3,414       $ 15,812       $ 18,106   

Income allocated to participating securities

      24         96         309         464   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net income available to common shareholders

    $ 1,713       $ 3,318       $ 15,503       $ 17,642   
  

 

 

     

 

 

     

 

 

     

 

 

  

Basic weighted-average shares outstanding

      43,814         42,931         43,822         42,872   
  

 

 

     

 

 

     

 

 

     

 

 

  

Basic earnings per share

    $ 0.04       $ 0.08       $ 0.35       $ 0.41   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted Earnings Per Common Share:

            

Net income

    $ 1,737       $ 3,414       $ 15,812       $ 18,106   

Income allocated to participating securities

      24         95         306         459   
  

 

 

     

 

 

     

 

 

     

 

 

  

Net income available to common shareholders

    $ 1,713       $ 3,319       $ 15,506       $ 17,647   
  

 

 

     

 

 

     

 

 

     

 

 

  

Basic weighted-average shares outstanding

      43,814         42,931         43,822         42,872   

Incremental shares from share-based compensation plans

      890         776         758         613   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted weighted-average shares outstanding

      44,704         43,707         44,580         43,485   
  

 

 

     

 

 

     

 

 

     

 

 

  

Diluted earnings per share

    $ 0.04       $ 0.08       $ 0.35       $ 0.41   
  

 

 

     

 

 

     

 

 

     

 

 

  

Options to acquire shares totaling approximately 0.3 million and 0.1 million shares of common stock that were outstanding during the second quarters of 2014 and 2013, respectively, were not included in the computation of diluted earnings per common share. Options excluded were those that had exercise prices greater than the average market price of the common shares such that inclusion would have been anti-dilutive. For the first 6 months of 2014 and 2013, options to acquire shares of approximately 0.2 million and 0.6 million shares of common stock, respectively, were not included in the computation of diluted earnings per share for the aforementioned reasons.