EXPRESS, INC. - 10-Q filing on 2020-12-09

Earnings Per Share

9 Months Ended

Oct. 31, 2020

NOTE 3 | EARNINGS PER SHARE

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		Thirty-Nine Weeks Ended
	October 31, 2020	November 2, 2019	October 31, 2020	November 2, 2019
	(in thousands)
Weighted-average shares - basic	64,868	66,438	64,515	66,845
Dilutive effect of stock options and restricted stock units	—	—	—	—
Weighted-average shares - diluted	64,868	66,438	64,515	66,845

Equity awards representing 10.9 million and 10.6 million shares of common stock were excluded from the computation of diluted earnings per share for the thirteen and thirty-nine weeks ended October 31, 2020, respectively, as the inclusion of these awards would have been anti-dilutive. Equity awards representing 8.9 million and 7.2 million shares of common stock were excluded from the computation of diluted earnings per share for the thirteen and thirty-nine weeks ended November 2, 2019, respectively, as the inclusion of these awards would have been anti-dilutive.

Additionally, for the thirteen weeks ended October 31, 2020, approximately 0.2 million shares were 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 October 31, 2020.