Earnings Per Share

9 Months Ended

Oct. 27, 2012

Earnings Per Share [Abstract]

Earnings Per Share

Note 5. Earnings Per Share

     In accordance with accounting guidance, unvested share-based payment awards that include non-forfeitable rights to dividends, whether paid or unpaid, are considered participating securities. As a result, such awards are required to be included in the calculation of basic earnings per common share pursuant to the "two-class" method. For us, participating securities are comprised of unvested restricted stock awards.

     Earnings per share ("EPS") is determined using the two-class method, as it is more dilutive than the treasury stock method. Basic EPS is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted EPS reflects the dilutive effect of potential common shares from securities such as stock options and PSUs.

     The following table sets forth the computation of basic and diluted EPS shown on the face of the accompanying consolidated statements of net income and comprehensive income:

		Thirty-Nine Weeks Ended						Thirteen Weeks Ended
		October 27,			October 29,			October 27,			October 29,
		2012			2011			2012			2011
Numerator
Net income	$	148,697		$	115,776		$	41,657		$	26,467
Net income and dividends declared allocated to
unvested restricted stock		(2,730	)		(1,462	)		(789	)		(362	)
Net income available to common stockholders	$	145,967		$	114,314		$	40,868		$	26,105
Denominator
Weighted average common shares outstanding – basic		163,682,768			170,912,046			163,253,220			166,518,711
Dilutive effect of outstanding awards		1,070,757			1,179,739			1,157,510			1,056,062
Weighted average common and common equivalent
shares outstanding – diluted		164,753,525			172,091,785			164,410,730			167,574,773
Net income per common share
Basic	$	0.89		$	0.67		$	0.25		$	0.16
Diluted	$	0.89		$	0.66		$	0.25		$	0.16

     For the thirty-nine weeks ended October 27, 2012 and October 29, 2011, stock options representing 1,558,539 and 3,751,480 shares of common stock, respectively, were excluded from the computation of diluted EPS because they were anti-dilutive.

     For the thirteen weeks ended October 27, 2012 and October 29, 2011, stock options representing 1,228,052 and 3,830,402 shares of common stock, respectively, were excluded from the computation of diluted EPS because they were anti-dilutive.