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Consolidated Statements of Income (USD $)
In Millions, except Per Share data, unless otherwise specified
12 Months Ended
Feb. 02, 2013
Jan. 28, 2012
Jan. 29, 2011
Net Sales $ 10,459 $ 10,364 $ 9,613
Costs of Goods Sold, Buying and Occupancy 6,073 6,307 5,982
Gross Profit 4,386 4,057 3,631
General, Administrative and Store Operating Expenses 2,720 2,698 2,341
Impairment of Goodwill and Other Intangible Assets 93 232 6
Gain on Divestiture of Third-party Apparel Sourcing Business 0 111 0
Operating Income 1,573 [1] 1,238 1,284 [1]
Interest Expense 316 246 208
Other Income 24 235 175
Income Before Income Taxes 1,281 1,227 1,251
Provision for Income Taxes 528 377 446
Net Income $ 753 $ 850 $ 805
Net Income Per Basic Share $ 2.60 $ 2.80 $ 2.49
Net Income Per Diluted Share $ 2.54 $ 2.70 $ 2.42
[1] Operating Loss for the Other segment includes the effect of the following items:(i)In 2012, a $93 million impairment charge related to goodwill and other intangible assets for our La Senza business; a $27 million impairment charge related to long-lived store assets for our Henri Bendel business; and $14 million of expense associated with the store closure initiative at La Senza.(ii)In 2011, a $232 million impairment charge related to goodwill and other intangible assets for our La Senza business; a $111 million gain related to the divestiture of 51% of our third-party apparel sourcing business; $163 million of expense related to the charitable contribution of our remaining shares of Express, Inc. to The Limited Brands Foundation; and $24 million of restructuring expenses at La Senza. In the fourth quarter of 2011, we divested 51% of our third-party apparel sourcing business, which was included in Other in the table above. For additional information, see Note 9, "Equity Investments and Other."