Quarterly financial data (unaudited)

12 Months Ended

Jan. 31, 2014

Quarterly financial data (unaudited)

Quarterly financial data (unaudited)

14. Quarterly financial data (unaudited)

        The following is selected unaudited quarterly financial data for the fiscal years ended January 31, 2014 and February 1, 2013. Each quarterly period listed below was a 13-week accounting period. The sum of the four quarters for any given year may not equal annual totals due to rounding.

(In thousands)	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
2013:
Net sales	$	4,233,733	$	4,394,651	$	4,381,838	$	4,493,945
Gross profit		1,295,148		1,377,290		1,328,493		1,434,811
Operating profit		395,000		412,822		390,241		538,122
Net income		220,083		245,475		237,385		322,173
Basic earnings per share		0.67		0.76		0.74		1.01
Diluted earnings per share		0.67		0.75		0.74		1.01

(In thousands)	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
2012:
Net sales	$	3,901,205	$	3,948,655	$	3,964,647	$	4,207,621
Gross profit		1,228,256		1,263,223		1,226,123		1,367,799
Operating profit		384,324		387,214		361,389		522,349
Net income		213,415		214,140		207,685		317,422
Basic earnings per share		0.64		0.64		0.62		0.97
Diluted earnings per share		0.63		0.64		0.62		0.97

        As discussed in Note 5, in the first quarter of 2013, the Company terminated its senior secured credit facilities, resulting in a pretax loss of $18.9 million ($11.5 million net of tax, or $0.04 per diluted share) which was recognized as Other (income) expense.

        As discussed in Note 8, in the second quarter of 2013, the Company recorded expenses associated with an agreement to settle a legal matter, resulting in a pretax loss of $8.5 million ($5.2 million net of tax, or $0.02 per diluted share) which was recognized as Selling, general and administrative expense.

        As discussed in Note 5, in the second quarter of 2012, the Company redeemed its outstanding senior subordinated notes due 2017, resulting in a pretax loss of $29.0 million ($17.7 million net of tax, or $0.05 per diluted share) which was recognized as Other (income) expense.