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Earnings (Loss) Per Share
 3 Months Ended
Apr. 29, 2022
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 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 29, 2022

 

 

April 30, 2021

 

Net (loss) income

 

$

(2,371

)

 

$

2,639

 

 

 

 

 

 

 

 

 

 

Basic weighted average common shares outstanding

 

 

33,163

 

 

 

32,769

 

Dilutive effect of stock awards

 

 

—

 

 

 

943

 

Diluted weighted average common shares outstanding

 

 

33,163

 

 

 

33,712

 

 

 

 

 

 

 

 

 

 

Basic (loss) earnings per share

 

$

(0.07

)

 

$

0.08

 

Diluted (loss) earnings per share

 

$

(0.07

)

 

$

0.08

 

 

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 1,427,987 and 115,345 in the 13 weeks ended April 29, 2022 and April 30, 2021, respectively.