Earnings per Share

3 Months Ended

May 03, 2025

5. Earnings per Share

The following is a reconciliation between basic and diluted weighted average shares outstanding:


	13 Weeks Ended
(In thousands)	May 3, 2025		May 4, 2024
Weighted average common shares outstanding:
Basic number of common shares outstanding:		179,548		196,429
Dilutive effect of stock options and non-vested restricted stock*		—		4,881
Diluted number of common shares outstanding		179,548		201,310
Anti-Dilutive Shares*		2,939		239

*For the 13 weeks ended May 3, 2025, there were 1.8 million potentially dilutive equity awards that were excluded from diluted earnings per share calculation because the Company incurred a net loss for this period and their inclusion would be anti-dilutive.

Dilutive and anti-dilutive shares related to share-based compensation. Refer to Note 9, Share-Based Payments, to the Consolidated Financial Statements for additional information regarding share-based compensation.

On March 14, 2025, the Company entered into an accelerated share repurchase agreement (the "ASR Agreement") with Bank of America, N.A. ("Bank of America"). Pursuant to the terms of the ASR Agreement, on March 17, 2025, the Company made an aggregate payment of $200 million to Bank of America and received an aggregate initial delivery of approximately 14.5 million shares of its common stock, representing approximately 80% of the total shares that are expected to be repurchased under the ASR. The 14.5 million shares have been recorded as treasury stock.