Net Income Per Share

9 Months Ended

Oct. 01, 2019

Net Income Per Share

Net Income Per Share

10.  Net Income Per Share

Basic net income per share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period, reduced by unvested restricted stock awards. As of October 1, 2019 and October 2, 2018, 1.8 million shares and 1.7 million shares, respectively, of restricted stock issued to staff members were unvested and, therefore, excluded from the calculation of basic earnings per share for the fiscal periods ended on those dates. Diluted net income per share includes the dilutive effect of outstanding equity awards, calculated using the treasury stock method. Shares of common stock equivalents of 2.1 million and 1.3 million as of October 1, 2019 and October 2, 2018, respectively, were excluded from the diluted calculation due to their anti-dilutive effect.

	Thirteen		Thirteen		Thirty-Nine		Thirty-Nine
	Weeks Ended		Weeks Ended		Weeks Ended		Weeks Ended
	October 1, 2019		October 2, 2018		October 1, 2019		October 2, 2018
	(In thousands, except per share data)
Net income	$	16,090	$	28,475	$	78,584	$	82,857
Basic weighted average shares outstanding		43,682		45,321		44,034		45,418
Dilutive effect of equity awards		504		1,047		609		982
Diluted weighted average shares outstanding		44,186		46,368		44,643		46,400
Basic net income per share	$	0.37	$	0.63	$	1.78	$	1.82
Diluted net income per share	$	0.36	$	0.61	$	1.76	$	1.79