Quarterly Financial Data (Unaudited)

12 Months Ended

Jan. 28, 2023

Quarterly Financial Data [Abstract]

Quarterly Financial Data (Unaudited)

Quarterly Financial Data (Unaudited)

The following table provides summarized quarterly financial data for 2022:

	Fiscal Quarter Ended
	April 30, 2022		July 30, 2022		October 29, 2022		January 28, 2023
	(in millions except per share data)
Net Sales	$	1,450	$	1,618	$	1,604	$	2,889
Gross Profit	669		660		678		1,250
Operating Income	280		242		202		653
Income from Continuing Operations Before Income Taxes	192		158		119		576
Net Income from Continuing Operations	155		120		91		428
Income from Discontinued Operations, Net of Tax	—		—		—		6
Net Income	$	155	$	120	$	91	$	434
Net Income per Basic Share (a)
Continuing Operations	$	0.65	$	0.52	$	0.40	$	1.87
Discontinued Operations	—		—		—		0.03
Total Net Income per Basic Share	$	0.65	$	0.52	$	0.40	$	1.90
Net Income per Diluted Share (a)
Continuing Operations	$	0.64	$	0.52	$	0.40	$	1.86
Discontinued Operations	—		—		—		0.03
Total Net Income per Diluted Share	$	0.64	$	0.52	$	0.40	$	1.89

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(a)Due to changes in stock prices during the year and timing of issuances 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 2021:

	Fiscal Quarter Ended
	May 1, 2021 (a)		July 31, 2021		October 30, 2021 (b)		January 29, 2022 (c)
	(in millions except per share data)
Net Sales	$	1,470	$	1,704	$	1,681	$	3,027
Gross Profit	742		828		839		1,446
Operating Income	337		384		409		879
Income from Continuing Operations Before Income Taxes	119		287		227		790
Net Income from Continuing Operations	91		215		177		592
Net Income (Loss) from Discontinued Operations, Net of Tax	186		159		(89)		2
Net Income	$	277	$	374	$	88	$	594
Net Income (Loss) per Basic Share (d)
Continuing Operations	$	0.32	$	0.78	$	0.67	$	2.31
Discontinued Operations	0.67		0.58		(0.34)		0.01
Total Net Income per Basic Share	$	0.99	$	1.36	$	0.33	$	2.31
Net Income (Loss) per Diluted Share (d)
Continuing Operations	$	0.32	$	0.77	$	0.66	$	2.27
Discontinued Operations	0.66		0.57		(0.33)		0.01
Total Net Income per Diluted Share	$	0.97	$	1.34	$	0.33	$	2.28

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(a)Net Income from Continuing Operations includes the effect of a $105 million pre-tax loss ($80 million after-tax) associated with the early extinguishment of outstanding notes.

(b)Net Income from Continuing Operations includes the effect of an $89 million pre-tax loss ($68 million after-tax) associated with the early extinguishment of outstanding notes.

(c)Operating Income includes the effect of a pre-tax loss related to the write-off of inventory that was destroyed by a tornado at a vendor’s factory of $9 million ($7 million after-tax).

(d)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 per share for the year.