EXPRESS, INC. - 10-Q filing on 2015-09-03

Earnings Per Share

6 Months Ended

Aug. 01, 2015

The following table provides a reconciliation between basic and diluted weighted-average shares used to calculate basic and diluted earnings per share:



	Thirteen Weeks Ended		Twenty-Six Weeks Ended
	August 1, 2015	August 2, 2014	August 1, 2015	August 2, 2014
	(in thousands)
Weighted-average shares - basic	84,677	84,172	84,560	84,088
Dilutive effect of stock options, restricted stock units, and restricted stock	524	268	529	344
Weighted-average shares - diluted	85,201	84,440	85,089	84,432

Equity awards representing 2.2 million and 3.3 million shares of common stock were excluded from the computation of diluted earnings per share for the thirteen and twenty-six weeks ended August 1, 2015, respectively, as the inclusion of these awards would have been anti-dilutive. Equity awards representing 4.3 million and 3.9 million shares of common stock were excluded from the computation of diluted earnings per share for the thirteen and twenty-six weeks ended August 2, 2014, respectively, as the inclusion of these awards would have been anti-dilutive.

Additionally, for the thirteen and twenty-six weeks ended August 1, 2015, there were 0.8 million shares excluded from the computation of diluted weighted average shares because the number of shares that will ultimately be issued is contingent on the Company's performance compared to pre-established performance goals which have not been achieved as of August 1, 2015.