Earnings Per Share

9 Months Ended

Oct. 05, 2024

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 7,170 and 288,041 for the 12- weeks ended October 5, 2024 and October 7, 2023, respectively, and were 189,062 and 18,340 for the 40- weeks ended October 5, 2024 and October 7, 2023, 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						40 Weeks Ended
(In thousands, except per share amounts)	October 5, 2024			October 7, 2023			October 5, 2024			October 7, 2023
Numerator:
Net earnings	$	10,920		$	11,127		$	35,380		$	41,932
Adjustment for earnings attributable to participating securities		(57	)		(81	)		(202	)		(333	)
Net earnings used in calculating earnings per share	$	10,863		$	11,046		$	35,178		$	41,599
Denominator:
Weighted average shares outstanding, including participating securities		33,580			34,020			33,847			34,262
Adjustment for participating securities		(174	)		(247	)		(193	)		(272	)
Shares used in calculating basic earnings per share		33,406			33,773			33,654			33,990
Effect of dilutive stock warrant		380			432			332			614
Effect of dilutive stock-based employee compensation		143			72			87			91
Shares used in calculating diluted earnings per share		33,929			34,277			34,073			34,695
Basic earnings per share	$	0.33		$	0.33		$	1.05		$	1.22
Diluted earnings per share	$	0.32		$	0.32		$	1.03		$	1.20