Revenue - USD ($)
$ in Millions

9 Months Ended

Oct. 29, 2022

Apr. 30, 2022

Revenue from Contract with Customer [Abstract]

Liabilities, Other than Long-term Debt, Noncurrent

$ 60

Revenue from Contract with Customer [Text Block]

Revenue

Disaggregation of Net Sales

We disaggregate our net sales between stores and online and also by brand and region. Net sales by region are allocated based on the location of the store where the customer paid for and received the merchandise or the distribution center or store from which the products were shipped.

Net sales disaggregated for stores and online sales are as follows:

	13 Weeks Ended				39 Weeks Ended
($ in millions)	October 29, 2022		October 30, 2021		October 29, 2022		October 30, 2021
Store sales (1)	$	2,478	$	2,456	$	7,168	$	7,668
Online sales (2)	1,561		1,487		4,205		4,477
Total net sales	$	4,039	$	3,943	$	11,373	$	12,145

__________

(1)Store sales primarily include sales made at our Company-operated stores and franchise sales.

(2)Online sales primarily include sales originating from our online channel including those that are picked up or shipped from stores.

Net sales disaggregated by brand and region are as follows:

($ in millions)	Old Navy Global		Gap Global		Banana Republic Global		Athleta Global		Other (2)		Total
13 Weeks Ended October 29, 2022
U.S. (1)	$	1,936	$	690	$	448	$	326	$	4	$	3,404
Canada	184		95		47		7		—		333
Europe	1		58		1		1		—		61
Asia	—		143		14		—		—		157
Other regions	16		55		7		6		—		84
Total	$	2,137	$	1,041	$	517	$	340	$	4	$	4,039

($ in millions)	Old Navy Global		Gap Global		Banana Republic Global		Athleta Global		Other		Total
13 Weeks Ended October 30, 2021
U.S. (1)	$	1,899	$	676	$	410	$	317	$	—	$	3,302
Canada	185		102		47		3		—		337
Europe	1		89		2		—		—		92
Asia	—		141		14		—		—		155
Other regions	20		31		6		—		—		57
Total	$	2,105	$	1,039	$	479	$	320	$	—	$	3,943

($ in millions)	Old Navy Global		Gap Global		Banana Republic Global		Athleta Global		Other (2)		Total
39 Weeks Ended October 29, 2022
U.S. (1)	$	5,489	$	1,752	$	1,324	$	1,005	$	10	$	9,580
Canada	514		241		143		23		—		921
Europe	2		163		4		3		—		172
Asia	1		425		48		—		—		474
Other regions	62		132		19		13		—		226
Total	$	6,068	$	2,713	$	1,538	$	1,044	$	10	$	11,373

($ in millions)	Old Navy Global		Gap Global		Banana Republic Global		Athleta Global		Other (3)		Total
39 Weeks Ended October 30, 2021
U.S. (1)	$	6,175	$	1,847	$	1,171	$	1,004	$	100	$	10,297
Canada	535		249		124		3		—		911
Europe	1		274		6		1		—		282
Asia	1		439		49		—		—		489
Other regions	63		90		13		—		—		166
Total	$	6,775	$	2,899	$	1,363	$	1,008	$	100	$	12,145

__________

(1)U.S. includes the United States and Puerto Rico.

(2)Primarily consists of net sales from revenue-generating strategic initiatives.

(3)Primarily consists of net sales for the Intermix brand, which was divested on May 21, 2021. Also includes net sales for the Janie and Jack brand, which was divested on April 8, 2021.

Deferred Revenue

We defer revenue when cash payments are received in advance of performance for unsatisfied obligations related to our gift cards, licensing agreements, outstanding loyalty points, and reimbursements of loyalty program discounts associated with our credit card agreement. For the 13 weeks ended October 29, 2022, the opening balance of deferred revenue for these obligations was $321 million, of which $119 million was recognized as revenue during the period. For the 39 weeks ended October 29, 2022, the opening balance of deferred revenue for these obligations was $345 million, of which $212 million was recognized as revenue during the period. The closing balance of deferred revenue for these obligations was $323 million as of October 29, 2022.

For the 13 weeks ended October 30, 2021, the opening balance of deferred revenue for these obligations was $239 million, of which $98 million was recognized as revenue during the period. For the 39 weeks ended October 30, 2021, the opening balance of deferred revenue for these obligations was $231 million, of which $145 million was recognized as revenue during the period. The closing balance of deferred revenue for these obligations was $270 million as of October 30, 2021.

The increase in the revenue recognition during the 39 weeks ended October 29, 2022 is primarily due to our new integrated loyalty program across the U.S. and Puerto Rico, which launched in July 2021 and allows for faster accumulation and redemption of rewards.

In April 2021, the Company entered into agreements with Barclays and Mastercard relating to a new long-term credit card program. In May 2022, the Company launched the new credit card program with Barclays and Mastercard and accordingly, our prior credit card program with Synchrony Financial was discontinued. The Company received an upfront payment of $60 million related to the new agreements prior to the program launch, which is being recognized as revenue over the term of the agreements.