Earnings (Loss) Per Share

6 Months Ended

Jul. 30, 2021

Earnings Per Share Basic And Diluted [Abstract]

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 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				26 Weeks Ended
(in thousands, except per share amounts)	July 30, 2021		July 31, 2020		July 30, 2021		July 31, 2020
Net income (loss)	$	16,221	$	4,376	$	18,860	$	(16,267	)

Basic weighted average common shares outstanding		32,979		32,600		32,875		32,524
Dilutive effect of stock awards		734		238		835		—
Diluted weighted average common shares outstanding		33,713		32,838		33,710		32,524

Basic earnings (loss) per share	$	0.49	$	0.13	$	0.57	$	(0.50	)
Diluted earnings (loss) per share	$	0.48	$	0.13	$	0.56	$	(0.50	)

Stock awards are considered anti-dilutive based on the application of the treasury stock method or in the event of a net loss. Anti-dilutive shares excluded from the diluted weighted average shares outstanding were 89 anti-dilutive shares in the 13 weeks ended July 30, 2021, 978,983 anti-dilutive shares in the 13 weeks ended July 31, 2020, 44 anti-dilutive shares in the 26 weeks ended July 30, 2021 and 1,216,830 anti-dilutive shares in the 26 weeks ended July 31, 2020.