Quarterly report pursuant to Section 13 or 15(d)

Net Loss Per Common Share (Tables)

v3.20.1
Net Loss Per Common Share (Tables)
 3 Months Ended
May 02, 2020
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 2,
2020
 
May 4,
2019
Numerator:
 
 
 
 
Net loss
 
$
(6,828,000
)
 
$
(20,990,000
)
Earnings allocated to participating share awards (a)
 
—

 
—

Net loss attributable to common shares — Basic and diluted
 
$
(6,828,000
)
 
$
(20,990,000
)
Denominator:
 
 
 
 
Weighted average number of common shares outstanding — Basic
 
8,290,790

 
6,731,846

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

 
—

Weighted average number of common shares outstanding — Diluted
 
8,290,790

 
6,731,846

Net loss per common share
 
$
(0.82
)
 
$
(3.12
)
Net loss per common share — assuming dilution
 
$
(0.82
)
 
$
(3.12
)

(a) During fiscal 2018, the Company issued a restricted stock award that is a participating security. For the three-month periods ended May 2, 2020 and May 4, 2019, the entire undistributed loss is allocated to common shareholders.
(b) For the three-month periods ended May 2, 2020 and May 4, 2019, there were 72,000 and 17,000 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.