Loss per Share

3 Months Ended

Aug. 02, 2025

Note 10. Loss per Share

Basic loss per share is calculated by dividing net loss by the weighted average number of common shares outstanding for the applicable period, but excludes any contingently issued shares where the contingency has not been resolved. The weighted average number of common shares used in the diluted loss per share calculation is determined using the treasury stock method which includes the effect of all potential dilutive common shares outstanding during the period.

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


	Three Months Ended
	August 2, 2025			July 27, 2024
	(13 Weeks)			(13 Weeks)
Net loss (in millions)	$	(10.3	)	$	(18.3	)

Basic weighted average shares outstanding		35,372,619			35,423,886
Dilutive effect of common stock equivalents		—			—
Diluted weighted average shares outstanding		35,372,619			35,423,886

Loss per share:
Basic	$	(0.29	)	$	(0.52	)
Diluted	$	(0.29	)	$	(0.52	)

Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding		248,195			1,004,990

In the three months ended August 2, 2025 and July 27, 2024, all potential common shares issuable for PSUs and RSUs were excluded from the calculation of diluted loss per share, as the effect of including them would have been anti-dilutive. The dilutive effect of potential common shares issuable for PSUs and RSUs on the weighted-average number of common shares outstanding would have been approximately 170,000 and 69,046 common shares for the three months ended August 2, 2025 and July 27, 2024, respectively.