The Company calculates earnings per share in accordance with ASC 260, Earnings Per Share, which requires a dual presentation of basic and diluted earnings per share. Basic earnings per share is calculated by dividing net income by the weighted-average shares of common stock outstanding, reduced by shares repurchased and held in treasury, during the period. Diluted earnings per share represents basic earnings per share adjusted to include the potentially dilutive effect of outstanding share option awards, nonvested share awards and nonvested share unit awards. During periods of net loss, diluted loss per share is equal to basic loss per share because the antidilutive effect of potential common shares is disregarded.

The following table sets forth the computation of basic and diluted earnings per common share:


	13 Weeks Ended
	March 30, 2025			March 31, 2024
	(In thousands, except per share data)
Net loss	$	(17,250	)	$	(8,286	)
Weighted-average shares of common stock outstanding:
Basic		22,023			21,832
Dilutive effect of common stock equivalents arising from share option and nonvested share awards		—			—
Diluted		22,023			21,832
Basic loss per share	$	(0.78	)	$	(0.38	)
Diluted loss per share	$	(0.78	)	$	(0.38	)
Antidilutive share option awards excluded from diluted calculation		620			227
Antidilutive nonvested share awards excluded from diluted calculation		596			573

The computation of diluted earnings per share for the first quarter of fiscal 2025 and 2024 excludes all potential awards since the Company reported a net loss in each period, and the effect of their inclusion would have been antidilutive (i.e., including such awards would result in higher earnings per share).