Loss per Share

9 Months Ended

Jan. 31, 2026

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						Nine Months Ended
	January 31, 2026			February 1, 2025			January 31, 2026			February 1, 2025
	(13 Weeks)			(13 Weeks)			(39 Weeks)			(40 Weeks)
Net loss (in millions)	$	(15.9	)	$	(14.4	)	$	(36.1	)	$	(34.3	)

Basic weighted average shares outstanding		35,608,424			35,182,166			35,484,555			35,370,099
Dilutive effect of common stock equivalents		—			—			—			—
Diluted weighted average shares outstanding		35,608,424			35,182,166			35,484,555			35,370,099

Loss per share:
Basic	$	(0.45	)	$	(0.41	)	$	(1.02	)	$	(0.97	)
Diluted	$	(0.45	)	$	(0.41	)	$	(1.02	)	$	(0.97	)

Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding		537,406			1,303,187			396,036			1,176,069

In the three and nine months ended January 31, 2026 and February 1, 2025, 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 393,000 and 362,000 common shares for the three months ended January 31, 2026 and

February 1, 2025, respectively. 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 287,000 and 221,000 common shares for the nine months ended January 31, 2026 and February 1, 2025, respectively.