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Earnings per Share
 3 Months Ended
May 04, 2013
Earnings Per Share [Abstract]  
Earnings per Share
(2)
Earnings Per Share
Basic earnings per share represents net earnings attributable to common stockholders divided by the weighted-average number of common shares outstanding for the period. Diluted earnings per share represents net earnings attributable to common stockholders divided by the weighted-average number of common shares outstanding, inclusive of the dilutive impact of common equivalent shares outstanding during the period. However, nonvested restricted stock awards (referred to as participating securities) are excluded from the dilutive impact of common equivalent shares outstanding in accordance with authoritative guidance under the two-class method since the nonvested restricted stockholders are entitled to participate in dividends declared on common stock as if the shares were fully vested and hence are deemed to be participating securities. Under the two-class method, earnings attributable to nonvested restricted stockholders are excluded from net earnings attributable to common stockholders for purposes of calculating basic and diluted earnings per common share. 
The computation of basic and diluted net earnings per common share attributable to common stockholders is as follows (in thousands, except per share data):
 
 
Three Months Ended
 
 
May 4, 2013
 
Apr 28, 2012
Net earnings attributable to Guess?, Inc.
 
$
9,916

 
$
26,646

Less net earnings attributable to nonvested restricted stockholders
 
89

 
169

Net earnings attributable to common stockholders
 
$
9,827

 
$
26,477

 
 
 
 
 
Weighted average common shares used in basic computations
 
84,582

 
89,190

Effect of dilutive securities:
 
 

 
 

Stock options and restricted stock units
 
196

 
320

Weighted average common shares used in diluted computations
 
84,778

 
89,510

 
 
 
 
 
Net earnings per common share attributable to common stockholders:
 
 

 
 

Basic
 
$
0.12

 
$
0.30

Diluted
 
$
0.12

 
$
0.30


For the three months ended May 4, 2013 and April 28, 2012, equity awards granted for 1,353,455 and 1,205,081, respectively, of the Company’s common shares were outstanding but were excluded from the computation of diluted weighted average common shares and common share equivalents outstanding because their effect would have been anti-dilutive.
On March 14, 2011, the Company’s Board of Directors authorized a program to repurchase, from time-to-time and as market and business conditions warrant, up to $250 million of the Company’s common stock (the “2011 Share Repurchase Program”). On June 26, 2012, the Company’s Board of Directors authorized a new program to repurchase, from time-to-time and as market and business conditions warrant, up to $500 million of the Company’s common stock (the “2012 Share Repurchase Program”). The 2012 Share Repurchase Program was in addition to the existing 2011 Share Repurchase Program. Repurchases under either program may be made on the open market or in privately negotiated transactions, pursuant to Rule 10b5-1 trading plans or other available means. There is no minimum or maximum number of shares to be repurchased under either program and programs may be discontinued at any time, without prior notice. During the three months ended May 4, 2013, the Company repurchased 882,551 shares under the 2011 and 2012 Share Repurchase Programs at an aggregate cost of $22.1 million. At May 4, 2013, the Company had remaining authority under the 2012 Share Repurchase Program to purchase $495.8 million of its common stock and no remaining authority to purchase shares under the 2011 Share Repurchase Program.