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Earnings Per Share
 6 Months Ended
Jul. 29, 2023
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
Basic earnings per share is based on net income attributable to Designer Brands Inc. and the weighted average of Class A and Class B common shares outstanding. Diluted earnings per share reflects the potential dilution of common shares adjusted for outstanding stock options and restricted stock units ("RSUs") calculated using the treasury stock method.

The following is a reconciliation between basic and diluted weighted average shares outstanding, as used in the calculation of earnings per share attributable to Designer Brands Inc.:
Three months ended Six months ended
(in thousands)
July 29, 2023July 30, 2022July 29, 2023July 30, 2022
Weighted average basic shares outstanding
65,576 69,604 64,973 71,263 
Dilutive effect of stock-based compensation awards
1,421 4,338 1,890 4,106 
Weighted average diluted shares outstanding
66,997 73,942 66,863 75,369 

For both the three months ended July 29, 2023 and July 30, 2022, the number of shares relating to potentially dilutive stock-based compensation awards that were excluded from the computation of diluted earnings per share due to their anti-dilutive effect was 3.1 million. For the six months ended July 29, 2023 and July 30, 2022, the number of shares relating to potentially dilutive stock-based compensation awards that were excluded from the computation of diluted earnings per share due to their anti-dilutive effect was 3.6 million and 3.0 million, respectively.