Basic earnings per common share is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings per common share is computed based on the weighted average number of shares of common stock outstanding, plus the effect of dilutive potential common shares, which include stock-based awards, such as stock options and restricted stock.

Dilutive potential common shares for the Company’s stock-based awards are determined using the treasury stock method and are excluded from the computation of earnings per share if their effect is anti-dilutive.

The computations for basic and diluted earnings per common share were as follows for the periods presented (in thousands, except per share data):


	13 Weeks Ended
	May 2, 2026		May 3, 2025

Net income for earnings per common share	$	319,822	$	264,288



Weighted average common shares outstanding - basic	88,535		79,341
Dilutive effect of stock-based awards	1,873		2,137
Weighted average common shares outstanding - diluted	90,408		81,478


Earnings per common share:
Basic	$	3.61	$	3.33
Diluted	$	3.54	$	3.24

Stock-based awards excluded from diluted shares	8		7

Weighted average common shares outstanding for the 13 weeks ended May 2, 2026 includes the dilutive effect of 9.6 million shares of the Company’s common stock and replacement equity awards issued in connection with the Foot Locker acquisition on September 8, 2025. Refer to Note 2 – Acquisition of Foot Locker for additional information.