Quarterly report pursuant to Section 13 or 15(d)

Net Loss Per Common Share (Tables)

v3.19.2
Net Loss Per Common Share (Tables)
 6 Months Ended
Aug. 03, 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
 
Six-Month Periods Ended
 
 
August 3,
2019
 
August 4,
2018
 
August 3,
2019
 
August 4,
2018
Numerator:
 
 
 
 
 
 
 
 
Net loss (a)
 
$
(10,177,000
)
 
$
(40,000
)
 
$
(31,167,000
)
 
$
(3,026,000
)
Earnings allocated to participating share awards (b)
 
—

 
—

 
—

 
—

Net loss attributable to common shares — Basic and diluted
 
$
(10,177,000
)
 
$
(40,000
)
 
$
(31,167,000
)
 
$
(3,026,000
)
Denominator:
 
 
 
 
 
 
 
 
Weighted average number of common shares outstanding — Basic
 
75,502,646

 
66,009,117

 
71,410,554

 
65,685,034

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

 
—

 
—

 
—

Weighted average number of common shares outstanding — Diluted
 
75,502,646

 
66,009,117

 
71,410,554

 
65,685,034

Net loss per common share
 
$
(0.13
)
 
$
(0.00
)
 
$
(0.44
)
 
$
(0.05
)
Net loss per common share — assuming dilution
 
$
(0.13
)
 
$
(0.00
)
 
$
(0.44
)
 
$
(0.05
)
(a) The net loss for the three and six-month periods ended August 3, 2019 includes costs related to executive and management transition of $310,000 and $2,341,000, respectively, restructuring costs of $5,165,000 and rebranding costs of $238,000. In addition, the six-month period ended August 3, 2019 includes an inventory impairment write-down of $6,050,000. The net loss for the three and six-month periods ended August 4, 2018 includes costs related to executive and management transition of $0 and $1,024,000 and contract termination costs of $0 and $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 and six-month periods ended August 3, 2019, the entire undistributed loss is allocated to common shareholders.
(c) For the three and six-month periods ended August 3, 2019, there were 284,000 and 229,000 incremental in-the-money potentially dilutive common shares outstanding, and 543,000 and 272,000 for the three and six-month periods ended August 4, 2018. 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.