Earnings (Loss) Per Share

6 Months Ended

Jul. 29, 2022

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 29, 2022			July 30, 2021		July 29, 2022			July 30, 2021
Net (loss) income	$	(2,179	)	$	16,221	$	(4,550	)	$	18,860

Basic weighted average common shares outstanding		33,361			32,979		33,262			32,875
Dilutive effect of stock awards		—			734		—			835
Diluted weighted average common shares outstanding		33,361			33,713		33,262			33,710

Basic (loss) earnings per share	$	(0.07	)	$	0.49	$	(0.14	)	$	0.57
Diluted (loss) earnings per share	$	(0.07	)	$	0.48	$	(0.14	)	$	0.56

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 1,098,859 anti-dilutive shares in the 13 weeks ended July 29, 2022, 89 anti-dilutive shares in the 13 weeks ended July 30, 2021, 1,209,586 anti-dilutive shares in the 26 weeks ended July 29, 2022 and 44 anti-dilutive shares in the 26 weeks ended July 30, 2021.