DULUTH HOLDINGS INC. Earnings Per Share Disclosure
Earnings per share is computed under the provisions of ASC 260, Earnings Per Share. Basic earnings per share is based on the weighted average number of common shares outstanding for the period. Diluted earnings per share is based on the weighted average number of common shares plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding restricted stock and are considered only for dilutive earnings per share. The reconciliation of the numerator and denominator of the basic and diluted earnings per share calculation is as follows:
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| Fiscal Year Ended | ||||
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| February 2, 2025 |
| January 28, 2024 | ||
(in thousands, except per share data) |
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Numerator - net (loss) income attributable to controlling interest |
| $ | (43,671) |
| $ | (9,923) |
Denominator - weighted average shares (Class A and Class B) |
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Basic |
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| 33,368 |
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| 32,955 |
Dilutive shares |
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| — |
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| — |
Diluted |
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| 33,368 |
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| 32,955 |
Earnings per share (Class A and Class B) |
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Basic |
| $ | (1.31) |
| $ | (0.30) |
Diluted |
| $ | (1.31) |
| $ | (0.30) |
The computation of diluted loss per share excluded 0.1 million shares of unvested restricted stock for the fiscal year ended February 2, 2025, respectively, because their inclusion would be anti-dilutive due to a net loss.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 24, 2025 | Showing above |
| 2023 | Mar 17, 2023 | |
| 2022 | Mar 25, 2022 | |
| 2018 | Mar 21, 2018 | |
| 2016 | Apr 8, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.