Earnings (Loss) Per Share

9 Months Ended

Oct. 28, 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					39 Weeks Ended
(in thousands, except per share amounts)	October 28, 2022			October 29, 2021		October 28, 2022			October 29, 2021
Net (loss) income	$	(4,682	)	$	7,399	$	(9,232	)	$	26,259

Basic weighted average common shares outstanding		33,064			32,981		33,196			32,910
Dilutive effect of stock awards		—			717		—			798
Diluted weighted average common shares outstanding		33,064			33,698		33,196			33,708

Basic (loss) earnings per share	$	(0.14	)	$	0.22	$	(0.28	)	$	0.80
Diluted (loss) earnings per share	$	(0.14	)	$	0.22	$	(0.28	)	$	0.78

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 1,098,662 anti-dilutive shares in the 13 weeks ended October 28, 2022, 142 anti-dilutive shares in the 13 weeks ended October 29, 2021, 1,170,934 anti-dilutive shares in the 39 weeks ended October 28, 2022 and 77 anti-dilutive shares in the 39 weeks ended October 29, 2021.