8. Net Income Per Share

Basic net income per share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during the period, reduced by unvested restricted stock awards. As of July 3, 2018 and July 4, 2017, 1.7 million and 1.8 million shares, respectively, of restricted stock issued to staff members were unvested and, therefore, excluded from the calculation of basic earnings per share for the fiscal years ended on those dates. Diluted net income per share includes the dilutive effect of outstanding equity awards, calculated using the treasury stock method. Shares of common stock equivalents of 1.7 million and 1.1 million for July 3, 2018 and July 4, 2017, respectively, were excluded from the diluted calculation due to their anti-dilutive effect.

	Thirteen Weeks Ended July 3, 2018		Thirteen Weeks Ended July 4, 2017		Twenty-Six Weeks Ended July 3, 2018		Twenty-Six Weeks Ended July 4, 2017
	(In thousands, except per share data)
Net income	$	28,353	$	38,166	$	54,382	$	73,209


Basic weighted average shares outstanding	45,383		47,732		45,467		47,683
Dilutive effect of equity awards	1,187		1,315		1,311		1,444


Diluted weighted average shares outstanding	46,570		49,047		46,778		49,127


Basic net income per share	$	0.62	$	0.80	$	1.20	$	1.54


Diluted net income per share	$	0.61	$	0.78	$	1.16	$	1.49