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Earnings (Loss) Per Share
 3 Months Ended
Apr. 28, 2023
Earnings Per Share [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 28, 2023

 

 

April 29, 2022

 

Net loss

 

$

(1,652

)

 

$

(2,371

)

 

 

 

 

 

 

Basic weighted average common shares outstanding

 

 

32,443

 

 

 

33,163

 

Dilutive effect of stock awards

 

 

—

 

 

 

—

 

Diluted weighted average common shares outstanding

 

 

32,443

 

 

 

33,163

 

 

 

 

 

 

 

Basic loss per share

 

$

(0.05

)

 

$

(0.07

)

Diluted loss per share

 

$

(0.05

)

 

$

(0.07

)

 

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 1,188,876 and 1,427,987 in the 13 weeks ended April 28, 2023 and April 29, 2022, respectively.