Income Per Common Share

3 Months Ended

Apr. 29, 2023

Basic income per common share amounts are calculated using the weighted average number of common shares outstanding for the period. Diluted income per common share amounts are calculated using the weighted average number of common shares outstanding for the period and include the dilutive impact of exercised stock options as well as assumed vesting of restricted stock awards and shares currently available for purchase under the Company's Employee Stock Purchase Plan, using the treasury stock method. Performance-based restricted stock units are considered contingently issuable shares for diluted income per common share purposes and the dilutive impact, if any, is not included in the weighted average shares until the performance conditions are met. The dilutive impact, if any, for performance-based restricted stock units, which are subject to market conditions based on the Company's total shareholder return relative to a pre-defined peer group, are included in the weighted average shares.

The following table reconciles net income and the weighted average common shares outstanding used in the computations of basic and diluted income per common share (in thousands, except for share and per share data):


	Thirteen Weeks Ended
	April 29, 2023		April 30, 2022
Numerator:
Net income	$	37,478	$	32,718






Denominator:
Weighted average common shares outstanding - basic	55,650,375		55,647,200
Dilutive impact of options, restricted stock units and employee stock purchase plan	126,635		187,087
Weighted average common shares outstanding - diluted	55,777,010		55,834,287
Per common share:
Basic income per common share	$	0.67	$	0.59
Diluted income per common share	$	0.67	$	0.59

The effects of the assumed vesting of restricted stock units for 18,506 shares of common stock for the thirteen weeks ended April 29, 2023 were excluded from the calculation of diluted income per share, as their impact would have been anti-dilutive.

The effects of the assumed vesting of restricted stock units for 18,449 shares of common stock for the thirteen weeks ended April 30, 2022 were excluded from the calculation of diluted income per share, as their impact would have been anti-dilutive.

The aforementioned excluded shares do not reflect the impact of any incremental repurchases under the treasury stock method.