Quarterly financial data (unaudited)

12 Months Ended

Jan. 31, 2020

Quarterly financial data (unaudited)

Quarterly financial data (unaudited)

12.Quarterly financial data (unaudited)

The following is selected unaudited quarterly financial data for the fiscal years ended January 31, 2020 and February 1, 2019. 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.

	First		Second		Third		Fourth
(In thousands)	Quarter		Quarter		Quarter		Quarter
2019:
Net sales	$	6,623,185	$	6,981,753	$	6,991,393	$	7,157,642
Gross profit		2,002,276		2,148,936		2,065,086		2,272,763
Operating profit		512,237		577,775		491,417		720,875
Net income		385,013		426,555		365,550		535,437
Basic earnings per share		1.49		1.65		1.43		2.11
Diluted earnings per share		1.48		1.65		1.42		2.10

	First		Second		Third		Fourth
(In thousands)	Quarter		Quarter		Quarter		Quarter
2018:
Net sales	$	6,114,463	$	6,443,309	$	6,417,462	$	6,649,809
Gross profit		1,862,249		1,974,873		1,895,059		2,071,689
Operating profit		490,184		545,476		442,143		638,503
Net income		364,852		407,237		334,142		483,241
Basic earnings per share		1.36		1.53		1.26		1.85
Diluted earnings per share		1.36		1.52		1.26		1.84

In the second quarter of 2019, the Company incurred expenses for losses the Company believes are both probable and reasonably estimable relating to certified class actions and associated legal matters totaling $31.0 million ($24.1 million net of tax, or $0.09 per diluted share), which was recognized in Selling, general and administrative expense in the second quarter of 2019.