Equity and Earnings per Share

6 Months Ended

Aug. 02, 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				For the six months ended
	August 2, 2025		August 3, 2024		August 2, 2025		August 3, 2024
(in thousands)
Common stock outstanding:
Basic weighted average common shares outstanding		53,816		58,233		53,708		58,135
Common stock equivalents – stock options, restricted stock units and deferred stock (1)		—		2,884		—		2,900
Diluted weighted average common shares outstanding		53,816		61,117		53,708		61,035

(1) Common stock equivalents of 2.2 million and 2.4 million for the second quarter and first six months of fiscal 2025, respectively, were excluded from the determination of diluted weighted average common shares outstanding due to the net loss reported in each period.

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				For the six months ended
	August 2, 2025		August 3, 2024		August 2, 2025		August 3, 2024
(in thousands, except exercise prices)
Stock options		51		36		51		36
Restricted stock units and deferred stock		1,265		350		444		363
Range of exercise prices of such options	$1.85-$6.59		$4.48 - $6.59		$1.85 - $6.59		$4.48 - $6.59

The above options, which were outstanding at August 2, 2025, expire from September 11, 2026 to March 20, 2033.

Excluded from the computation of basic and diluted earnings per share for the second quarter and first six months of fiscal 2025 and fiscal 2024 were 573,000 performance stock units. 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, 524,309 shares and 455,469 shares of deferred stock at August 2, 2025 and August 3, 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.