EARNINGS (LOSS) PER COMMON SHARE

9 Months Ended

Nov. 01, 2025

On February 6, 2025, the Company completed its Rights Offering. As the exercise price of the subscription right was less than the fair value of the Common stock, the subscription right contained a bonus element. In connection with this transaction, and in accordance with FASB ASC 260 — Earnings Per Share, the Company’s weighted average common shares outstanding and basic and diluted loss per share were retroactively adjusted for all prior periods presented by a factor of 1.002.

The following table reconciles net income (loss) and common share amounts utilized to calculate basic and diluted earnings (loss) per common share:


	Thirteen Weeks Ended				Thirty-nine Weeks Ended
	November 1, 2025		November 2, 2024		November 1, 2025		November 2, 2024
	(in thousands)
Net income (loss)	$	(4,320)	$	20,080	$	(43,708)	$	(49,829)

Basic weighted average common shares outstanding	22,170		12,801		21,980		12,753
Dilutive effect of stock awards	—		21		—		—
Diluted weighted average common shares outstanding	22,170		12,822		21,980		12,753

Anti-dilutive shares excluded from diluted earnings (loss) per common share calculation	202		—		116		44