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Stockholders' Equity
 3 Months Ended
May 04, 2024
Earnings Per Share [Abstract]  
Stockholders' Equity

(9) Stockholders’ Equity

Earnings per Share

Basic earnings per share is calculated by dividing net income by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share represents basic earnings per share adjusted to include the potentially dilutive effect of nonvested share awards and nonvested share unit awards.

 

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

 

 

Thirteen Weeks Ended

 

 

May 4,

 

 

April 29,

 

 

2024

 

 

2023

 

Net (loss) income

 

$

(18,066

)

 

$

(15,639

)

Weighted average shares of common stock outstanding:

 

 

 

 

 

 

Basic

 

 

37,567

 

 

 

37,610

 

Dilutive effect of common stock equivalents

 

 

—

 

 

 

—

 

Diluted

 

 

37,567

 

 

 

37,610

 

Basic (loss) earnings per share

 

$

(0.48

)

 

$

(0.42

)

Diluted (loss) earnings per share

 

$

(0.48

)

 

$

(0.42

)

Restricted stock units considered anti-dilutive and excluded in the calculation

 

 

635

 

 

 

238

 

 

 

Repurchase Program

 

On March 24, 2022 the Company announced that its Board of Directors had authorized a share repurchase program (the “Repurchase Program”) to allow for the repurchase of up to $75.0 million of outstanding shares of the Company’s common stock, $0.01 par value per share, commencing on March 31, 2022. On March 15, 2023, the Company's Board of Directors extended the term of the Repurchase Program through March 31, 2024. During the 13 weeks ended May 4, 2024, the Company did not repurchase any shares of its common stock.