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Earnings (Loss) Per Share
 3 Months Ended
Apr. 30, 2021
Earnings Per Share Basic And Diluted [Abstract]  
Earnings (Loss) Per Share

NOTE 3. EARNINGS (LOSS) PER SHARE

 

The numerator for both basic and diluted EPS is net income (loss). The denominator for basic EPS is based upon the number of weighted average shares of Lands’ End common stock outstanding during the reporting periods. The denominator for diluted EPS is based upon the number of weighted average shares of Lands' End common stock and common stock equivalents outstanding during the reporting periods using the treasury stock method in accordance with U.S. GAAP. Potentially dilutive securities for the diluted EPS calculations consist of non-vested equity shares of common stock and in-the-money outstanding options where the current stock price exceeds the option strike price.

 

 

The following table summarizes the components of basic and diluted EPS:

 

 

 

13 Weeks Ended

 

(in thousands, except per share amounts)

 

April 30, 2021

 

 

May 1, 2020

 

Net income (loss)

 

$

2,639

 

 

$

(20,643

)

 

 

 

 

 

 

 

 

 

Basic weighted average common shares outstanding

 

 

32,769

 

 

 

32,448

 

Dilutive effect of stock awards

 

 

943

 

 

 

—

 

Diluted weighted average common shares outstanding

 

 

33,712

 

 

 

32,448

 

 

 

 

 

 

 

 

 

 

Basic earnings (loss) per share

 

$

0.08

 

 

$

(0.64

)

Diluted earnings (loss) per share

 

$

0.08

 

 

$

(0.64

)

 

Stock awards are considered anti-dilutive based on the application of the treasury stock method or in the event of a net loss. There were 115,345 and 1,205,821 anti-dilutive shares excluded from the diluted weighted average shares outstanding for First Quarter 2021 and First Quarter 2020, respectively.