| Quarterly Financial Data (Unaudited) |
Quarterly Financial Data (Unaudited) The following table provides summarized quarterly financial data for 2016: | | | | | | | | | | | | | | | | | | Fiscal Quarter Ended | | April 30, 2016 (a) | | July 30, 2016 (b) | | October 29, 2016 | | January 28, 2017 (c) | | (in millions except per share data) | Net Sales | $ | 2,614 |
| | $ | 2,890 |
| | $ | 2,581 |
| | $ | 4,489 |
| Gross Profit | 1,043 |
| | 1,113 |
| | 1,025 |
| | 1,944 |
| Operating Income | 323 |
| | 408 |
| | 284 |
| | 988 |
| Income Before Income Taxes | 233 |
| | 380 |
| | 190 |
| | 893 |
| Net Income | 152 |
| | 252 |
| | 122 |
| | 632 |
| Net Income Per Basic Share (d) | $ | 0.53 |
| | $ | 0.88 |
| | $ | 0.43 |
| | $ | 2.21 |
| Net Income Per Diluted Share (d) | $ | 0.52 |
| | $ | 0.87 |
| | $ | 0.42 |
| | $ | 2.18 |
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________________ | | (a) | Includes the effect of a pre-tax gain of $35 million ($21 million net of tax) included in operating income, related to actions at Victoria's Secret, including severance charges, fabric cancellations and the write-off of catalogue paper. |
| | (b) | Includes the effect of a pre-tax gain of $108 million ($70 million net of tax) related to a cash distribution from Easton Town Center, offset by a pre-tax loss of $36 million ($22 million net of tax) associated with the early extinguishment of the 2017 Notes, included in other income. |
| | (c) | Includes the effect of a $42 million tax benefit related to the favorable resolution of a discrete income tax matter. |
| | (d) | Due to changes in stock prices during the year and timing of issuances and repurchases of shares, the cumulative total of quarterly net income per share amounts may not equal the net income per share for the year. |
The following table provides summarized quarterly financial data for 2015: | | | | | | | | | | | | | | | | | | Fiscal Quarter Ended | | May 2, 2015 (a) | | August 1, 2015 | | October 31, 2015 | | January 30, 2016 | | (in millions except per share data) | Net Sales | $ | 2,512 |
| | $ | 2,765 |
| | $ | 2,482 |
| | $ | 4,395 |
| Gross Profit | 1,056 |
| | 1,114 |
| | 1,031 |
| | 2,002 |
| Operating Income | 372 |
| | 403 |
| | 339 |
| | 1,078 |
| Income Before Income Taxes | 369 |
| | 323 |
| | 260 |
| | 982 |
| Net Income | 250 |
| | 202 |
| | 164 |
| | 636 |
| Net Income Per Basic Share (b) | $ | 0.86 |
| | $ | 0.69 |
| | $ | 0.56 |
| | $ | 2.19 |
| Net Income Per Diluted Share (b) | $ | 0.84 |
| | $ | 0.68 |
| | $ | 0.55 |
| | $ | 2.15 |
|
________________ | | (a) | Includes the effect of a pre-tax gain of $78 million ($69 million net of tax) included in other income, related to the sale of our remaining interest in the third-party apparel sourcing business. |
| | (b) | Due to changes in stock prices during the year and timing of issuances and repurchases of shares, the cumulative total of quarterly net income per share amounts may not equal the net income per share for the year. |
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| Summarized Quarterly Financial Data |
The following table provides summarized quarterly financial data for 2016: | | | | | | | | | | | | | | | | | | Fiscal Quarter Ended | | April 30, 2016 (a) | | July 30, 2016 (b) | | October 29, 2016 | | January 28, 2017 (c) | | (in millions except per share data) | Net Sales | $ | 2,614 |
| | $ | 2,890 |
| | $ | 2,581 |
| | $ | 4,489 |
| Gross Profit | 1,043 |
| | 1,113 |
| | 1,025 |
| | 1,944 |
| Operating Income | 323 |
| | 408 |
| | 284 |
| | 988 |
| Income Before Income Taxes | 233 |
| | 380 |
| | 190 |
| | 893 |
| Net Income | 152 |
| | 252 |
| | 122 |
| | 632 |
| Net Income Per Basic Share (d) | $ | 0.53 |
| | $ | 0.88 |
| | $ | 0.43 |
| | $ | 2.21 |
| Net Income Per Diluted Share (d) | $ | 0.52 |
| | $ | 0.87 |
| | $ | 0.42 |
| | $ | 2.18 |
|
________________ | | (a) | Includes the effect of a pre-tax gain of $35 million ($21 million net of tax) included in operating income, related to actions at Victoria's Secret, including severance charges, fabric cancellations and the write-off of catalogue paper. |
| | (b) | Includes the effect of a pre-tax gain of $108 million ($70 million net of tax) related to a cash distribution from Easton Town Center, offset by a pre-tax loss of $36 million ($22 million net of tax) associated with the early extinguishment of the 2017 Notes, included in other income. |
| | (c) | Includes the effect of a $42 million tax benefit related to the favorable resolution of a discrete income tax matter. |
| | (d) | Due to changes in stock prices during the year and timing of issuances and repurchases of shares, the cumulative total of quarterly net income per share amounts may not equal the net income per share for the year. |
|
The following table provides summarized quarterly financial data for 2015: | | | | | | | | | | | | | | | | | | Fiscal Quarter Ended | | May 2, 2015 (a) | | August 1, 2015 | | October 31, 2015 | | January 30, 2016 | | (in millions except per share data) | Net Sales | $ | 2,512 |
| | $ | 2,765 |
| | $ | 2,482 |
| | $ | 4,395 |
| Gross Profit | 1,056 |
| | 1,114 |
| | 1,031 |
| | 2,002 |
| Operating Income | 372 |
| | 403 |
| | 339 |
| | 1,078 |
| Income Before Income Taxes | 369 |
| | 323 |
| | 260 |
| | 982 |
| Net Income | 250 |
| | 202 |
| | 164 |
| | 636 |
| Net Income Per Basic Share (b) | $ | 0.86 |
| | $ | 0.69 |
| | $ | 0.56 |
| | $ | 2.19 |
| Net Income Per Diluted Share (b) | $ | 0.84 |
| | $ | 0.68 |
| | $ | 0.55 |
| | $ | 2.15 |
|
________________ | | (a) | Includes the effect of a pre-tax gain of $78 million ($69 million net of tax) included in other income, related to the sale of our remaining interest in the third-party apparel sourcing business. |
| | (b) | Due to changes in stock prices during the year and timing of issuances and repurchases of shares, the cumulative total of quarterly net income per share amounts may not equal the net income per share for the year. |
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