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Quarterly Financial Data (Unaudited) (Tables)
 12 Months Ended
Feb. 01, 2020
Quarterly Financial Data [Abstract]  
Summarized Quarterly Financial Data
The following table provides summarized quarterly financial data for 2019:
 
Fiscal Quarter Ended
 
May 4,
2019
 
August 3,
2019 (a)
 
November 2,
2019 (b)(c)(d)
 
February 1,
2020 (e)(f)
 
(in millions except per share data)
Net Sales
$
2,629

 
$
2,902

 
$
2,677

 
$
4,707

Gross Profit
934

 
983

 
741

 
1,794

Operating Income (Loss)
153

 
175

 
(151
)
 
82

Income (Loss) Before Income Taxes
60

 
42

 
(277
)
 
(7
)
Net Income (Loss)
40

 
38

 
(252
)
 
(192
)
Net Income (Loss) Per Basic Share (g)
$
0.15

 
$
0.14

 
$
(0.91
)
 
$
(0.70
)
Net Income (Loss) Per Diluted Share (g)
$
0.14

 
$
0.14

 
$
(0.91
)
 
$
(0.70
)
 ________________
(a)
Net income includes the effect of a $40 million pre-tax loss ($30 million after-tax) associated with the early redemption of $764 million of outstanding notes maturing between 2020 and 2022.
(b)
Gross profit includes the effect of a $218 million pre-tax impairment charge ($200 million after-tax) related to certain Victoria's Secret long-lived store assets.
(c)
Operating loss includes the effect of a $30 million (no tax impact) goodwill impairment charge related to the Greater China reporting unit.
(d)
Net loss includes the effect of a $37 million pre-tax charge ($28 million after-tax) to increase reserves related to ongoing contingent obligations for the La Senza business.
(e)
Gross profit includes the effect of a $35 million pre-tax impairment charge ($30 million after-tax) related to certain Victoria's Secret long-lived store assets.
(f)
Operating income includes the effect of a $690 million pre-tax goodwill impairment charge ($687 million after-tax) related to the Victoria's Secret reporting unit.
(g)
Due to changes in stock prices during the year and timing of issuances of shares, the cumulative total of quarterly net income (loss) per share amounts may not equal the net income (loss) per share for the year.
The following table provides summarized quarterly financial data for 2018:
 
Fiscal Quarter Ended
 
May 5,
2018
 
August 4,
2018
 
November 3,
2018 (a)(b)
 
February 2,
2019 (c)
 
(in millions except per share data)
Net Sales
$
2,626

 
$
2,984

 
$
2,775

 
$
4,852

Gross Profit
944

 
1,059

 
928

 
1,968

Operating Income
155

 
228

 
54

 
800

Income (Loss) Before Income Taxes
59

 
129

 
(41
)
 
710

Net Income (Loss)
48

 
99

 
(43
)
 
540

Net Income (Loss) Per Basic Share (d)
$
0.17

 
$
0.36

 
$
(0.16
)
 
$
1.96

Net Income (Loss) Per Diluted Share (d)
$
0.17

 
$
0.36

 
$
(0.16
)
 
$
1.94


 ________________
(a)
Gross profit includes the effect of an $81 million pre-tax impairment charge ($73 million after-tax) related to certain Victoria's Secret long-lived store assets.
(b)
Operating income includes the effect of $20 million ($15 million after-tax) of Henri Bendel closure costs.
(c)
Operating income includes the effect of a pre-tax loss of $99 million ($55 million after-tax) related to the divestiture of La Senza.
(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 (loss) per share amounts may not equal the net income per share for the year.