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EARNINGS PER SHARE
 3 Months Ended
May 04, 2014
EARNINGS PER SHARE

NOTE C. EARNINGS PER SHARE

Basic earnings per share is computed as net earnings divided by the weighted average number of common shares outstanding for the period. Diluted earnings per share is computed as net earnings divided by the weighted average number of common shares outstanding for the period plus common stock equivalents. Common stock equivalents consist of shares subject to option awards with exercise prices less than or equal to the average market price of our common stock for the period, as well as restricted stock units, to the extent their inclusion would be dilutive.

The following is a reconciliation of net earnings and the number of shares used in the basic and diluted earnings per share computations:

 

Dollars and amounts in thousands, except per share amounts    Net Earnings     

Weighted

Average Shares

      Earnings
Per Share		  

Thirteen weeks ended May 4, 2014

         

Basic

    $ 46,162         93,993       $ 0.49   

Effect of dilutive stock-based awards

               1,625            

Diluted

    $ 46,162         95,618       $ 0.48   

Thirteen weeks ended May 5, 2013

         

Basic

    $ 39,466         97,704       $ 0.40   

Effect of dilutive stock-based awards

               1,811            

Diluted

    $ 39,466         99,515       $ 0.40   

Stock-based awards of 160,000 and 918,000 for the thirteen weeks ended May 4, 2014 and May 5, 2013, respectively, were excluded from the computation of diluted earnings per share, as their inclusion would be anti-dilutive.