Quarterly report pursuant to Section 13 or 15(d)

Net Loss Per Common Share (Tables)

v3.19.2
Net Loss Per Common Share (Tables)
 3 Months Ended
May 04, 2019
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
A reconciliation of net loss per share calculations and the number of shares used in the calculation of basic loss per share and diluted loss per share is as follows:
 
 
Three-Month Periods Ended
 
 
May 4, 2019
 
May 5, 2018
Numerator:
 
 
 
 
Net loss (a)
 
$
(20,990,000
)
 
$
(2,986,000
)
Earnings allocated to participating share awards (b)
 
—

 
—

Net loss attributable to common shares — Basic and diluted
 
$
(20,990,000
)
 
$
(2,986,000
)
Denominator:
 
 
 
 
Weighted average number of common shares outstanding — Basic
 
67,318,462

 
65,360,951

Dilutive effect of stock options, non-vested shares and warrants (c)
 
—

 
—

Weighted average number of common shares outstanding — Diluted
 
67,318,462

 
65,360,951

Net loss per common share
 
$
(0.31
)
 
$
(0.05
)
Net loss per common share — assuming dilution
 
$
(0.31
)
 
$
(0.05
)
(a) The net loss for the three-month period ended May 4, 2019 includes costs related to executive and management transition of $2,031,000 and an inventory impairment write-down of $6,050,000. The net loss for the three-month period ended May 5, 2018 includes costs related to executive and management transition of $1,024,000 and contract termination costs of $753,000.
(b) During the fourth quarter of fiscal 2018, the Company issued a restricted stock award that is a participating security. For the three-month period ended May 4, 2019, the entire undistributed loss is allocated to common shareholders.
(c) For the three-month periods ended May 4, 2019 and May 5, 2018, there were 173,000 and -0- incremental in-the-money potentially dilutive common shares outstanding. The incremental in-the-money potentially dilutive common stock shares are excluded from the computation of diluted earnings per share, as the effect of their inclusion would be anti-dilutive.