Earnings (Loss) per Share

6 Months Ended

Jul. 31, 2022

Basic and diluted earnings (loss) per share attributable to common stockholders are presented using the two-class method required for participating securities. Under the two-class method, net income (loss) attributable to common stockholders is determined by allocating undistributed earnings between common stock and participating securities. Undistributed earnings for the periods presented are calculated as net income (loss) less distributed earnings. Undistributed earnings are allocated proportionally to common Class A and Class B stockholders as both classes are entitled to share equally, on a per share basis, in dividends and other distributions. Basic and diluted earnings (loss) per share are calculated by dividing net income (loss) attributable to common stockholders by the weighted-average shares outstanding during the period.

The following table sets forth basic and diluted earnings (loss) per share attributable to common stockholders for the periods presented (in thousands, except per share data):


	13 Weeks Ended				26 Weeks Ended
	July 31, 2022		August 1, 2021		July 31, 2022		August 1, 2021
Basic and diluted earnings (loss) per share
Numerator
Earnings (loss) attributable to common Class A and Class B stockholders	$	22,345	$	(16,686)	$	40,817	$	22,033
Denominator
Weighted-average common shares used in computing earnings per share:
Basic	421,690		416,665		421,048		415,957
Effect of dilutive stock-based awards	5,143		—		5,724		11,501
Diluted	426,833		416,665		426,772		427,458
Anti-dilutive stock-based awards excluded from diluted common shares	7,388		11,913		4,528		66
Earnings (loss) per share attributable to common Class A and Class B stockholders:
Basic	$	0.05	$	(0.04)	$	0.10	$	0.05
Diluted	$	0.05	$	(0.04)	$	0.10	$	0.05