EXPRESS, INC. - 10-Q filing on 2016-09-01

Earnings Per Share

6 Months Ended

Jul. 30, 2016

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
	July 30, 2016	August 1, 2015	July 30, 2016	August 1, 2015
	(in thousands)
Weighted-average shares - basic	78,798	84,677	78,930	84,560
Dilutive effect of stock options, restricted stock units, and restricted stock	147	524	499	529
Weighted-average shares - diluted	78,945	85,201	79,429	85,089

Equity awards representing 4.4 million and 3.4 million shares of common stock were excluded from the computations of diluted earnings per share for the thirteen and twenty-six weeks ended July 30, 2016, respectively, as the inclusion of these awards would have been anti-dilutive. Equity awards representing 2.2 million and 3.3 million shares of common stock were excluded from the computations 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.

Additionally, for the thirteen and twenty-six weeks ended July 30, 2016, 0.7 million shares were excluded from the computations 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 July 30, 2016.