Earnings (Loss) Per Share

9 Months Ended

Oct. 29, 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				39 Weeks Ended
(in thousands, except per share amounts)	October 29, 2021		October 30, 2020		October 29, 2021		October 30, 2020
Net income (loss)	$	7,399	$	7,176	$	26,259	$	(9,091	)

Basic weighted average common shares outstanding		32,981		32,605		32,910		32,551
Dilutive effect of stock awards		717		643		798		—
Diluted weighted average common shares outstanding		33,698		33,248		33,708		32,551

Basic earnings (loss) per share	$	0.22	$	0.22	$	0.80	$	(0.28	)
Diluted earnings (loss) per share	$	0.22	$	0.22	$	0.78	$	(0.28	)

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 142 anti-dilutive shares in the 13 weeks ended October 29, 2021, 570,364 anti-dilutive shares in the 13 weeks ended October 30, 2020, 77 anti-dilutive shares in the 39 weeks ended October 29, 2021 and 1,213,317 anti-dilutive shares in the 39 weeks ended October 30, 2020.