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Earnings Per Share | 6 Months Ended
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Jul. 13, 2024
Earnings Per Share [Abstract] |
Earnings Per Share | Note 12 – Earnings Per Share Outstanding nonvested restricted stock awards granted to retirement-eligible Associates contain nonforfeitable rights to 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. The dilutive impact of the restricted stock awards, restricted stock units, and warrants are presented below, as applicable. Weighted average restricted stock awards that were not included in the EPS calculations because they were anti-dilutive were 248,685 and 200,091 for the 12- and 28- week periods ended July 13, 2024, respectively. 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 13, 2024 |  |  | July 15, 2023 |  |  | July 13, 2024 |  |  | July 15, 2023 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net earnings | $ |  | 11,489 |  |  | $ |  | 19,468 |  |  | $ |  | 24,460 |  |  | $ |  | 30,805 |
Adjustment for earnings attributable to participating securities |  |  | (62 | ) |  |  |  | (140 | ) |  |  |  | (145 | ) |  |  |  | (254 | )
Net earnings used in calculating earnings per share | $ |  | 11,427 |  |  | $ |  | 19,328 |  |  | $ |  | 24,315 |  |  | $ |  | 30,551 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding, including participating securities |  |  | 33,726 |  |  |  |  | 34,125 |  |  |  |  | 33,962 |  |  |  |  | 34,366 |
Adjustment for participating securities |  |  | (181 | ) |  |  |  | (246 | ) |  |  |  | (201 | ) |  |  |  | (283 | )
Shares used in calculating basic earnings per share |  |  | 33,545 |  |  |  |  | 33,879 |  |  |  |  | 33,761 |  |  |  |  | 34,083 |
Effect of dilutive stock warrant |  |  | 196 |  |  |  |  | 468 |  |  |  |  | 296 |  |  |  |  | 650 |
Effect of dilutive stock-based employee compensation |  |  | 36 |  |  |  |  | 48 |  |  |  |  | 71 |  |  |  |  | 100 |
Shares used in calculating diluted earnings per share |  |  | 33,777 |  |  |  |  | 34,395 |  |  |  |  | 34,128 |  |  |  |  | 34,833 |
Basic earnings per share | $ |  | 0.34 |  |  | $ |  | 0.57 |  |  | $ |  | 0.72 |  |  | $ |  | 0.90 |
Diluted earnings per share | $ |  | 0.34 |  |  | $ |  | 0.56 |  |  | $ |  | 0.71 |  |  | $ |  | 0.88 |

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