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Earnings Per Share

6 Months Ended

Aug. 03, 2025

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

11.

Earnings Per Share

We refer you to the discussion of Earnings Per Share in Note 1. Summary of Significant Accounting Policies, in the financial statements included in our 2025 Annual Report, for additional information concerning the calculation of earnings per share (EPS).

All stock awards are designed to encourage retention and to provide an incentive for increasing shareholder value. We have issued restricted stock awards to non-employee members of the board of directors since 2006 and to certain non-executive employees since 2014. We have issued RSUs to certain senior executives since fiscal 2012 under the Company’s Stock Incentive Plan. Each RSU entitles an executive to receive one share of the Company’s common stock if the executive remains continuously employed with the Company through the applicable vesting date. The RSUs may be paid in shares of our common stock, cash or both at the discretion of the Compensation Committee of our board of directors. We have issued PSUs to certain senior executives since fiscal 2019 under the Company’s Stock Incentive Plan. Each PSU entitles the executive officer to receive one share of our common stock based on the achievement of two specified performance conditions if the executive officer remains continuously employed through the end of the three-year performance period. Historically, one target is based on our annual average growth in our EPS over the performance period and the other target is based on EPS growth over the performance period compared to our peers. For the PSUs issued under the Company’s 2024 Plan in fiscal 2025 and afterwards, one target is the Company’s annual EPS growth over the performance period and the other target is the Company’s total shareholder return during the performance period compared to the Company’s peer group. The payout or settlement of the PSUs will be made in shares of our common stock.

We expect to continue to grant these types of awards annually in the future. The following table sets forth the number of outstanding restricted stock awards and RSUs and PSUs, net of forfeitures and vested shares, as of the fiscal period-end dates indicated:

		August 3,				February 2,
		2025				2025
Restricted shares			126				151
RSUs and PSUs			183				115
			309				266

All restricted shares, RSUs and PSUs awarded that have not yet vested are considered when computing diluted earnings per share.

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

		Thirteen Weeks Ended								Twenty-Six Weeks Ended
		August 3,				July 28,				August 3,				July 28,
		2025				2024				2025				2024
Net (loss) / income		$	(3,277	)		$	(1,951	)		$	(6,329	)		$	(6,042	)
Less: Unvested participating restricted stock dividends			29				41				62				82
Net earnings allocated to unvested participating restricted stock			-				-				-				-
(Loss) / Earnings available for common shareholders			(3,306	)			(1,992	)			(6,391	)			(6,124	)

Weighted average shares outstanding for basic earnings per share			10,612				10,521				10,587				10,509
Dilutive effect of unvested restricted stock, RSU and PSU awards			-				-				-				-
Weighted average shares outstanding for diluted earnings per share			10,612				10,521				10,587				10,509

Basic (loss) / earnings per share		$	(0.31	)		$	(0.19	)		$	(0.60	)		$	(0.57	)

Diluted (loss) / earnings per share		$	(0.31	)		$	(0.19	)		$	(0.60	)		$	(0.57	)

Due to net losses, approximately 106,000 shares and 115,000 shares for the second quarter and first half of fiscal 2026, and 169,000 shares and 176,000 shares for the second quarter and first half of fiscal 2025, respectively, would have been antidilutive and are therefore excluded from the calculation of earnings per share, respectively.