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Earnings Per Share
 6 Months Ended
Jul. 29, 2023
Earnings Per Share [Abstract]  
Earnings Per Share
NOTE 2 - EARNINGS PER SHARE:
Accounting Standard Codification (“ASC”) 260 –
Earnings Per Share
 
requires dual presentation of basic and
diluted Earnings Per Share
 
(“EPS”) on the face of
 
all income statements for
 
all entities with complex
 
capital
structures.
 
The Company has presented one basic EPS and one diluted EPS amount for all common shares in
the accompanying Condensed Consolidated Statements of Income (Loss) and Comprehensive Income (Loss).
 
While
 
the
 
Company’s
 
certificate
 
of
 
incorporation
 
provides
 
the
 
right
 
for
 
the
 
Board
 
of
 
Directors
 
to
 
declare
dividends on Class A shares without declaration of commensurate dividends on Class B shares, the Company
has historically paid the same dividends to both Class A and Class B shareholders
 
and the Board of Directors
has resolved to continue this
 
practice.
 
Accordingly, the Company’s allocation
 
of income for purposes
 
of the
EPS
 
computation
 
is
 
the
 
same
 
for
 
Class
 
A
 
and
 
Class
 
B
 
shares
 
and
 
the
 
EPS
 
amounts
 
reported
 
herein
 
are
applicable to both Class A and Class
 
B shares.
Basic
 
EPS
 
is
 
computed
 
as
 
net
 
income
 
less
 
earnings
 
allocated
 
to
 
non-vested
 
equity
 
awards
 
divided
 
by
 
the
weighted average
 
number of
 
common shares
 
outstanding for
 
the period.
 
Diluted EPS
 
reflects the
 
potential
dilution
 
that
 
could
 
occur
 
from
 
common
 
shares
 
issuable
 
through
 
stock
 
options
 
and
 
the
 
Employee
 
Stock
Purchase Plan.
Three Months Ended
Six Months Ended
July 29, 2023
July 30, 2022
July 29, 2023
July 30, 2022
(Dollars in thousands)
Numerator
Net earnings (loss)
$
1,127
$
(2,274)
$
5,554
$
7,474
(Earnings) loss allocated to non-vested equity awards
(54)
132
(292)
(405)
Net earnings (loss) available to common stockholders
$
1,073
$
(2,142)
$
5,262
$
7,069
Denominator
Basic weighted average common shares outstanding
19,395,484
20,005,315
19,349,266
20,077,258
Diluted weighted average common shares outstanding
19,395,484
20,005,315
19,349,266
20,077,258
Net income (loss) per common share
Basic earnings (loss) per share
$
0.06
$
(0.11)
$
0.27
$
0.35
Diluted earnings (loss) per share
$
0.06
$
(0.11)
$
0.27
$
0.35