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EARNINGS (LOSS) PER SHARE

12 Months Ended

Jan. 30, 2021

EARNINGS (LOSS) PER SHARE

EARNINGS (LOSS) PER SHARE

4. EARNINGS (LOSS) PER SHARE

The Company uses the two-class method to compute basic and diluted (loss) earnings per common share attributable to Caleres, Inc. shareholders. In periods of net loss, no effect is given to the Company’s participating securities since they do not contractually participate in the losses of the Company. The following table sets forth the computation of basic and diluted earnings (loss) per common share attributable to Caleres, Inc. shareholders:



($ thousands, except per share amounts)	2020			2019			2018

NUMERATOR
Net (loss) earnings	$	(438,994)		$	62,082		$	(5,481)
Net (earnings) loss attributable to noncontrolling interests		(120)			737			40
Net (loss) earnings attributable to Caleres, Inc.	$	(439,114)		$	62,819		$	(5,441)
Net earnings allocated to participating securities		—			(1,988)			—
Net (loss) earnings attributable to Caleres, Inc. after allocation of earnings to participating securities	$	(439,114)		$	60,831		$	(5,441)

DENOMINATOR
Denominator for basic (loss) earnings per common share attributable to Caleres, Inc. shareholders		37,220			39,796			41,756
Dilutive effect of share-based awards		—			57			—
Denominator for diluted (loss) earnings per common share attributable to Caleres, Inc. shareholders		37,220			39,853			41,756

Basic (loss) earnings per common share attributable to Caleres, Inc. shareholders	$	(11.80)		$	1.53		$	(0.13)

Diluted (loss) earnings per common share attributable to Caleres, Inc. shareholders	$	(11.80)		$	1.53		$	(0.13)

Options to purchase 22,667 and 16,667 shares of common stock in 2020 and 2019, respectively, were not included in the denominator for diluted (loss) earnings per common share attributable to Caleres, Inc. shareholders because the effect would be antidilutive. There were no options to purchase shares excluded from the denominator in 2018. Due to the Company’s net loss attributable to Caleres, Inc. in 2020 and 2018, the denominator for diluted loss per common share attributed to Caleres, Inc. shareholders is the same as the denominator for basic loss per common share attributable to Caleres, Inc. shareholders.

The Company repurchased 2,902,122, 1,704,240 and 1,465,649 shares at a cost of $23.3 million, $33.4 million and $43.8 million during the years ended January 30, 2021, February 1, 2020 and February 2, 2019, respectively, under the 2011, 2018 and 2019 publicly announced share repurchase programs. The 2011 and 2018 repurchase programs permit repurchases of up to 2.5 million shares and the 2019 repurchase program permits repurchases of up to 5.0 million shares, as further discussed in Item 5, Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.