Equity and Earnings per Share

3 Months Ended

May 03, 2025

7. Equity and Earnings per Share

The following table provides a reconciliation of the number of shares outstanding for basic and diluted earnings per share:


	For the three months ended
	May 3, 2025		May 4, 2024
(in thousands)
Common stock outstanding:
Basic weighted average common shares outstanding		53,601		58,036
Common stock equivalents – stock options, restricted stock units and deferred stock (1)		—		2,927
Diluted weighted average common shares outstanding		53,601		60,963

(1) Common stock equivalents of 2.5 million for the first quarter of fiscal 2025 were excluded from the determination of diluted weighted average common shares outstanding due to the net loss reported for the first quarter of fiscal 2025.

The following potential common stock equivalents were excluded from the computation of diluted earnings per share in each period, because the exercise price of such options was greater than the average market price per share of common stock for the respective periods or because the unearned compensation associated with stock options and restricted stock units had an anti-dilutive effect.


	For the three months ended
	May 3, 2025		May 4, 2024
(in thousands, except exercise prices)
Stock options		51		73
Restricted stock units and deferred stock		483		545
Range of exercise prices of such options	$1.85-$6.59		$4.48 - $6.59

The above options, which were outstanding at May 3, 2025, expire from September 11, 2026 to March 20, 2033.

Excluded from the computation of basic and diluted earnings per share were 573,000 shares for the first three months of fiscal 2025 and fiscal 2024. These performance-based awards will be included in the computation of basic and diluted earnings per share if, and when, the respective performance targets are achieved. In addition, 493,327 shares and 444,281 shares of deferred stock at May 3,

2025 and May 4, 2024, respectively, were excluded from the computation of basic earnings per share. Shares of deferred stock are not considered issued and outstanding until the vesting date of the deferral period.