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Earnings Per Share | 6 Months Ended
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Jul. 15, 2023
Earnings Per Share [Abstract] |
Earnings Per Share | Note 12 – Earnings Per Share Outstanding nonvested restricted stock awards under the 2015 Stock Incentive Plan contain nonforfeitable rights to dividends or dividend equivalents, which participate in undistributed earnings with common stock. These awards are classified as participating securities and are included in the calculation of basic earnings per share. Awards under the 2020 Stock Incentive Plan do not contain nonforfeitable rights to dividends or dividend equivalents and are therefore not classified as participating securities. The dilutive impact of both the restricted stock awards and warrants are presented below, as applicable. The performance share units are not currently dilutive. The following table sets forth the computation of basic and diluted net earnings per share:
| 12 Weeks Ended |  |  | 28 Weeks Ended |
(In thousands, except per share amounts) | July 15, 2023 |  |  | July 16, 2022 |  |  | July 15, 2023 |  |  | July 16, 2022 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net earnings | $ |  | 19,468 |  |  | $ |  | 5,115 |  |  | $ |  | 30,805 |  |  | $ |  | 24,404 |
Adjustment for earnings attributable to participating securities |  |  | (140 | ) |  |  |  | (54 | ) |  |  |  | (254 | ) |  |  |  | (307 | )
Net earnings used in calculating earnings per share | $ |  | 19,328 |  |  | $ |  | 5,061 |  |  | $ |  | 30,551 |  |  | $ |  | 24,097 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding, including participating securities |  |  | 34,125 |  |  |  |  | 35,564 |  |  |  |  | 34,366 |  |  |  |  | 35,565 |
Adjustment for participating securities |  |  | (246 | ) |  |  |  | (373 | ) |  |  |  | (283 | ) |  |  |  | (448 | )
Shares used in calculating basic earnings per share |  |  | 33,879 |  |  |  |  | 35,191 |  |  |  |  | 34,083 |  |  |  |  | 35,117 |
Effect of dilutive stock warrant |  |  | 468 |  |  |  |  | 789 |  |  |  |  | 650 |  |  |  |  | 735 |
Effect of dilutive restricted stock awards |  |  | 48 |  |  |  |  | 175 |  |  |  |  | 100 |  |  |  |  | 170 |
Shares used in calculating diluted earnings per share |  |  | 34,395 |  |  |  |  | 36,155 |  |  |  |  | 34,833 |  |  |  |  | 36,022 |
Basic earnings per share | $ |  | 0.57 |  |  | $ |  | 0.14 |  |  | $ |  | 0.90 |  |  | $ |  | 0.69 |
Diluted earnings per share | $ |  | 0.56 |  |  | $ |  | 0.14 |  |  | $ |  | 0.88 |  |  | $ |  | 0.67 |

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