Loss per Share

9 Months Ended

Feb. 01, 2025

Note 10. Loss per Share

Basic loss per share is calculated by dividing net loss by the weighted average number of common shares outstanding for the applicable period, but excludes any contingently issued shares where the contingency has not been resolved. The weighted average number of common shares used in the diluted loss per share calculation is determined using the treasury stock method which includes the effect of all potential dilutive common shares outstanding during the period.

The following table sets forth the computation of basic and diluted loss per share:


	Three Months Ended						Nine Months Ended
	February 1, 2025			January 27, 2024			February 1, 2025			January 27, 2024
	(13 Weeks)			(13 Weeks)			(40 Weeks)			(39 Weeks)
Numerator:
Net loss (in millions)	$	(14.4	)	$	(11.6	)	$	(34.3	)	$	(66.0	)

Denominator:
Denominator for basic loss per share - weighted average shares outstanding and vested/unissued restricted stock units		35,182,166			35,327,995			35,370,099			35,562,513
Dilutive potential common shares		—			—			—			—
Denominator for diluted loss per share		35,182,166			35,327,995			35,370,099			35,562,513

Loss per share:
Basic	$	(0.41	)	$	(0.33	)	$	(0.97	)	$	(1.86	)
Diluted	$	(0.41	)	$	(0.33	)	$	(0.97	)	$	(1.86	)

Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding		1,303,187			1,319,577			1,176,069			1,463,996

In the three and nine months ended February 1, 2025 and January 27, 2024, all potential common shares issuable for PSUs and RSUs were excluded from the calculation of diluted loss per share, as the effect of including them would have been anti-dilutive. The dilutive effect of potential common shares issuable for PSUs and RSUs on the weighted-average number of common shares outstanding would have been approximately 362,000 and 503,000 common shares for the three months ended February 1, 2025 and January 27, 2024, respectively. The dilutive effect of potential common shares issuable for PSUs and RSUs on the weighted-average number of common shares outstanding would have been approximately 221,000 and 560,000 common shares for the nine months ended February 1, 2025 and January 27, 2024, respectively.