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Earnings (Loss) Per Share Attributable to Common Stockholders | 6 Months Ended
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Jan. 30, 2021
Earnings Per Share [Abstract] |
Earnings (Loss) Per Share Attributable to Common Stockholders | Earnings (Loss) Per Share Attributable to Common Stockholders Basic and diluted earnings (loss) per share attributable to common stockholders is presented in conformity with the two-class method required for participating securities: Class A and Class B common stock. The rights of the holders of Class A and Class B common stock are identical, except with respect to voting, conversion, and transfer rights. Each share of Class A common stock is entitled to one vote per share and each share of Class B common stock is entitled to ten votes per share. Each share of Class B common stock is convertible at any time at the option of the stockholder into one share of Class A common stock. Basic net income (loss) per share attributable to common stockholders is computed by dividing the net income (loss) attributable to common stockholders by the weighted-average number of common shares outstanding during the period. For the calculation of diluted earnings (loss) per share (“EPS”), net income (loss) attributable to common stockholders for basic EPS is adjusted by the effect of dilutive securities. Diluted net income (loss) per share attributable to common stockholders is computed by dividing the net income (loss) attributable to common stockholders by the weighted-average number of common shares outstanding, including all potentially dilutive common shares. The undistributed earnings are allocated based on the contractual participation rights of the Class A and Class B common shares as if the earnings for the year have been distributed. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis. The computation of the diluted net income (loss) per share of Class A common stock assumes the conversion of Class B common stock, while diluted net income (loss) per share of Class B common stock does not assume the conversion of Class A common stock as Class A common stock is not convertible into Class B common stock. A reconciliation of the numerator and denominator used in the calculation of basic and diluted EPS attributable to common stockholders is as follows:
|  | For the Three Months Ended
|  | January 30, 2021 |  | February 1, 2020
(in thousands, except share and per share amounts) |  | Class A |  | Class B |  | Class A |  | Class B
Numerator: |  |  |  |  |  |  |  |
Net income (loss) |  | $ | (12,790) |  |  | $ | (8,249) |  |  | $ | 6,243 |  |  | $ | 5,188 |
Net income (loss) attributable to common stockholders - basic |  | (12,790) |  |  | (8,249) |  |  | 6,243 |  |  | 5,188 |
Reallocation of undistributed earnings (loss) as a result of conversion of Class B to Class A shares |  | — |  |  | — |  |  | 5,188 |  |  | — |
Reallocation of undistributed earnings (loss) to Class B shares |  | — |  |  | — |  |  | — |  |  | 64 |
Net income (loss) attributable to common stockholders - diluted |  | $ | (12,790) |  |  | $ | (8,249) |  |  | $ | 11,431 |  |  | $ | 5,252 |
Denominator: |  |  |  |  |  |  |  |
Weighted-average shares of common stock - basic |  | 64,163,400 |  |  | 41,381,115 |  |  | 55,733,232 |  |  | 46,311,855 |
Conversion of Class B to Class A common shares outstanding |  | — |  |  | — |  |  | 46,311,855 |  |  | — |
Effect of dilutive stock options and restricted stock units |  | — |  |  | — |  |  | 2,592,461 |  |  | 1,760,938 |
Weighted-average shares of common stock - diluted |  | 64,163,400 |  |  | 41,381,115 |  |  | 104,637,548 |  |  | 48,072,793 |
Earnings (loss) per share attributable to common stockholders: |  |  |  |  |  |  |  |
Basic |  | $ | (0.20) |  |  | $ | (0.20) |  |  | $ | 0.11 |  |  | $ | 0.11 |
Diluted |  | $ | (0.20) |  |  | $ | (0.20) |  |  | $ | 0.11 |  |  | $ | 0.11 |
|  | For the Six Months Ended
|  | January 30, 2021 |  | February 1, 2020
(in thousands, except share and per share amounts) |  | Class A |  | Class B |  | Class A |  | Class B
Numerator: |  |  |  |  |  |  |  |
Net income (loss) |  | $ | (6,765) |  |  | $ | (4,733) |  |  | $ | 6,113 |  |  | $ | 5,140 |
Net income (loss) attributable to common stockholders - basic |  | (6,765) |  |  | (4,733) |  |  | 6,113 |  |  | 5,140 |
Reallocation of undistributed earnings as a result of conversion of Class B to Class A shares |  | — |  |  | — |  |  | 5,140 |  |  | — |
Reallocation of undistributed earnings to Class B shares |  | — |  |  | — |  |  | — |  |  | 78 |
Net income (loss) attributable to common stockholders - diluted |  | $ | (6,765) |  |  | $ | (4,733) |  |  | $ | 11,253 |  |  | $ | 5,218 |
Denominator: |  |  |  |  |  |  |  |
Weighted-average shares of common stock - basic |  | 61,685,068 |  |  | 43,155,215 |  |  | 55,300,571 |  |  | 46,501,095 |
Conversion of Class B to Class A common shares outstanding |  | — |  |  | — |  |  | 46,501,095 |  |  | — |
Effect of dilutive stock options and restricted stock units |  | — |  |  | — |  |  | 2,217,116 |  |  | 1,736,121 |
Weighted-average shares of common stock - diluted |  | 61,685,068 |  |  | 43,155,215 |  |  | 104,018,782 |  |  | 48,237,216 |
Earnings (loss) per share attributable to common stockholders: |  |  |  |  |  |  |  |
Basic |  | $ | (0.11) |  |  | $ | (0.11) |  |  | $ | 0.11 |  |  | $ | 0.11 |
Diluted |  | $ | (0.11) |  |  | $ | (0.11) |  |  | $ | 0.11 |  |  | $ | 0.11 |
The following common stock equivalents were excluded from the computation of diluted earnings (loss) per share for the periods presented because including them would have been antidilutive:
| For the Three Months Ended |  | For the Six Months Ended
| January 30, 2021 |  | February 1, 2020 |  | January 30, 2021 |  | February 1, 2020
Restricted stock units | 8,372,991 |  |  | 2,347,736 |  |  | 7,468,108 |  |  | 4,022,303 |
Stock options to purchase Class A common stock | 1,465,162 |  |  | 2,969,625 |  |  | 1,153,235 |  |  | 2,969,625 |
Stock options to purchase Class B common stock | 1,937,512 |  |  | 1,336,984 |  |  | 1,953,331 |  |  | 2,083,118 |
Total | 11,775,665 |  |  | 6,654,345 |  |  | 10,574,674 |  |  | 9,075,046 |

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