DISCONTINUED OPERATIONS

12 Months Ended

Jul. 29, 2023

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

NOTE 18—DISCONTINUED OPERATIONS

The following table summarizes the operating results of discontinued operations included in the Consolidated Statements of Operations:

(in millions)	2021
Net sales	$	42
Cost of sales	28
Gross profit	14
Operating expenses	9
Income from discontinued operations before income taxes	5
Benefit for income taxes	(1)
Income from discontinued operations, net of tax	$	6

No net sales were recorded within continuing operations for retail stores within discontinued operations that the Company disposed of and expects to dispose of without a supply agreement. These net sales have been eliminated upon consolidation within the Wholesale segment of continuing operations and amounted to $22 million in fiscal 2021.