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Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jul. 31, 2021
Aug. 01, 2020
Jul. 31, 2021
Aug. 01, 2020
Net sales $ 1,457,374 $ 1,644,197 $ 3,082,926 $ 3,083,346
Cost of sales (exclusive of depreciation expense shown separately below) 879,577 960,633 1,851,182 1,829,026
Gross margin 577,797 683,564 1,231,744 1,254,320
Selling and administrative expenses 488,658 504,000 986,076 962,631
Depreciation expense 35,289 33,974 69,266 71,664
Gain on sale of distribution centers 0 (463,053) 0 (463,053)
Operating profit 53,850 608,643 176,402 683,078
Interest expense (2,296) (2,548) (4,864) (5,870)
Other income (expense) (133) 1,357 827 (1,960)
Income before income taxes 51,421 607,452 172,365 675,248
Income tax expense 13,714 155,480 40,095 173,953
Net income and comprehensive income $ 37,707 $ 451,972 $ 132,270 $ 501,295
Earnings per common share        
Earnings per common share - basic (in dollars per share) $ 1.11 $ 11.52 $ 3.81 $ 12.79
Earnings per common share - diluted (in dollars per share) $ 1.09 $ 11.29 $ 3.75 $ 12.66
Weighted-average common shares outstanding:        
Basic 34,004 39,239 34,676 39,184
Dilutive effect of share-based awards 712 801 643 419
Diluted 34,716 40,040 35,319 39,603
Cash dividends declared per common share $ 0.30 $ 0.30 $ 0.60 $ 0.60