Income (Loss) Per Share

3 Months Ended

Aug. 01, 2026

Note 11. Income (Loss) per Share

Basic income (loss) per share is calculated by dividing net income (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 income (loss) per share:


	Three Months Ended
	August 1, 2026			August 2, 2025
(in millions, except share and per share data)	(13 Weeks)			(13 Weeks)
Net income (loss)	$	(11.4	)	$	(10.3	)

Basic weighted average shares outstanding		35,673,887			35,372,619
Dilutive effect of common stock equivalents		—			—
Diluted weighted average shares outstanding		35,673,887			35,372,619

Income (loss) per share:
Basic	$	(0.32	)	$	(0.29	)
Diluted	$	(0.32	)	$	(0.29	)

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

In the three months ended August 1, 2026 and August 2, 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 886,000 and 170,000 common shares for the three months ended August 1, 2026 and August 2, 2025, respectively.