Earnings Per Share

6 Months Ended

Jul. 12, 2025

Note 14 – Earnings Per Share

Outstanding nonvested restricted stock awards granted to retirement-eligible Associates 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. The dilutive impact of the restricted stock awards, restricted stock units, and warrants are presented below, as applicable. Weighted average restricted stock awards and restricted stock units that were not included in the EPS calculations because they were anti-dilutive were 18,354 and 248,685 for the 12- weeks ended July 12, 2025 and July 13, 2024, respectively and were 7,904 and 200,091 for the 28-weeks ended July 12, 2025 and 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 12, 2025			July 13, 2024			July 12, 2025			July 13, 2024
Numerator:
Net earnings	$	6,190		$	11,489		$	8,270		$	24,460
Adjustment for earnings attributable to participating securities		(31	)		(62	)		(42	)		(145	)
Net earnings used in calculating earnings per share	$	6,159		$	11,427		$	8,228		$	24,315
Denominator:
Weighted average shares outstanding, including participating securities		33,915			33,726			33,808			33,962
Adjustment for participating securities		(168	)		(181	)		(173	)		(201	)
Shares used in calculating basic earnings per share		33,747			33,545			33,635			33,761
Effect of dilutive stock warrant		388			196			277			296
Effect of dilutive stock-based employee compensation		143			36			149			71
Shares used in calculating diluted earnings per share		34,278			33,777			34,061			34,128
Basic earnings per share	$	0.18		$	0.34		$	0.24		$	0.72
Diluted earnings per share	$	0.18		$	0.34		$	0.24		$	0.71