Quarterly report pursuant to Section 13 or 15(d)

Net income per common share

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Net income per common share
6 Months Ended
Aug. 03, 2024
Net income per common share  
Net income per common share

11.Net income per common share

The following is a reconciliation of net income and the number of shares of common stock used in the computation of net income per basic and diluted common share:

13 Weeks Ended

26 Weeks Ended

August 3,

July 29,

August 3,

July 29,

(In thousands, except per share data)

    

2024

    

2023

    

2024

    

2023

Numerator:

Net income

    

$

252,556

$

300,102

$

565,669

$

647,153

Denominator:

Weighted-average common shares – Basic

47,505

49,617

47,815

49,885

Dilutive effect of stock options and non-vested stock

162

232

207

272

Weighted-average common shares – Diluted

47,667

49,849

48,022

50,157

Net income per common share:

Basic

$

5.32

$

6.05

$

11.83

$

12.97

Diluted

$

5.30

$

6.02

$

11.78

$

12.90

The denominator for diluted net income per common share for the 13 weeks ended August 3, 2024 and July 29, 2023 excludes 184 and 127 employee stock options and restricted stock units, respectively, due to their anti-dilutive effects. The denominator for diluted net income per common share for the 26 weeks ended August 3, 2024 and July 29, 2023 excludes 195 and 133 employee stock options and restricted stock units, respectively, due to their anti-dilutive effects. Outstanding performance-based restricted stock units are included in the computation of dilutive shares only to the extent that the underlying performance conditions are satisfied prior to the end of the reporting period or would be considered satisfied if the end of the reporting period were the end of the related contingency period and the results would be dilutive under the treasury stock method.