Earnings per Share

6 Months Ended

Jul. 30, 2023

arnings per Share

The computation of basic and diluted (loss) earnings per share was as follows:


	Three Months Ended				Six Months Ended
(in thousands, except per share data)	July 30, 2023		July 31, 2022		July 30, 2023		July 31, 2022
Net (loss) income attributable to common stockholders	$	(382,002)	$	51,598	$	(411,417)	$	89,647

Weighted-average shares outstanding–basic	64,005		63,500		63,964		63,725
Dilutive effect of share-based compensation	—		477		—		545
Weighted-average shares outstanding–diluted	64,005		63,977		63,964		64,270

(Loss) earnings per share:
Basic	$	(5.97)	$	0.81	$	(6.43)	$	1.41
Diluted	$	(5.97)	$	0.81	$	(6.43)	$	1.39

Anti-dilutive shares not included in the above calculations:
Share-based compensation	2,593		210		2,462		83
Warrants	8,573		—		8,573		—
Total anti-dilutive shares	11,166		210		11,035		83

Basic earnings or loss per share is computed by dividing income or loss available to common stockholders by the weighted-average number of shares of common stock outstanding during the reporting period. Diluted earnings or loss per share incorporates the incremental shares issuable, calculated using the treasury stock method, upon the assumed exercise of non-qualified stock options and the vesting of restricted stock units, market-condition restricted stock units and financial metric-based restricted stock units if certain conditions have been met, but excludes such incremental shares that would have an anti-dilutive effect. Due to the Company's net loss for the three and six months ended July 30, 2023, all shares underlying stock options and restricted stock units are considered anti-dilutive.

Any dilutive effect of the Warrants (see Note 9, Long-Term Debt) is calculated using the treasury-stock method. During the three and six months ended July 30, 2023, the Warrants were excluded from diluted shares outstanding because the exercise price exceeded the average market price of the Company's common stock for the reporting period