Loss Per Share

6 Months Ended

Jul. 11, 2021

Basic loss per share amounts are calculated by dividing net loss by the weighted-average number of shares of common stock outstanding during the period. Diluted loss per share amounts are calculated based upon the weighted-average number of shares of common stock and potentially dilutive shares of common stock outstanding during the period. Potentially dilutive shares are excluded from the computation in periods in which they have an anti-dilutive effect. Diluted loss per share reflects the potential dilution that could occur if holders of options exercised their options into common stock. As the Company was in a net loss position for both the twelve week and twenty-eight week periods ended July 11, 2021 and July 12, 2020, all potentially dilutive common shares are considered anti-dilutive.

The Company uses the treasury stock method to calculate the effect of outstanding stock options and awards. Basic weighted average shares outstanding is reconciled to diluted weighted average shares outstanding as follows (in thousands):


	Twelve Weeks Ended		Twenty-Eight Weeks Ended
	July 11, 2021	July 12, 2020	July 11, 2021	July 12, 2020
Basic weighted average shares outstanding	15,665	13,741	15,617	13,262
Dilutive effect of stock options and awards	—	—	—	—
Diluted weighted average shares outstanding	15,665	13,741	15,617	13,262

Awards excluded due to anti-dilutive effect on diluted loss per share	241	865	308	317