Segment Information (Tables)

6 Months Ended

Jul. 30, 2022

Segment Information [Abstract]

Sales and Division Operating Results for Reportable Segments

We evaluate performance based on several factors, primarily the banner’s financial results, referred to as division profit. Division profit reflects income before income taxes, impairment and other charges, corporate expense, non-operating income, and net interest expense.

	Thirteen weeks ended				Twenty-six weeks ended
	July 30,		July 31,		July 30,		July 31,
($ in millions)	2022		2021		2022		2021
Sales	$	2,065	$	2,275	$	4,240	$	4,428
Operating Results
Division profit		184		332	$	444	$	647
Less: Impairment and other charges (1)		12		36		18		40
Less: Corporate expense (2)		33		32		70		61
Income from operations		139		264		356		546
Interest expense, net		(5)		(2)		(10)		(4)
Other income / (expense), net (3)		9		325		(13)		329
Income before income taxes	$	143	$	587	$	333	$	871

(1) See Note 5, Impairment and Other Charges for further detail.

(2) Corporate expense consists of unallocated selling, general and administrative expenses, as well as depreciation and amortization related to our corporate headquarters, centrally managed departments, unallocated insurance and benefit programs, certain foreign exchange transaction gains and losses, and other items.  

(3) Other income / (expense), net for the thirteen weeks and twenty-six weeks ended July 30, 2022 represented primarily the loss on the change in fair value of our investment in Retailors, Ltd., a publicly-listed entity, which was partially offset by other income. See Note 6, Other Income / (Expense), net.

Disaggregation of Revenue

The table below presents sales disaggregated based upon sales channel. Sales are attributable to the channel in which the sales transaction is initiated.

		Thirteen weeks ended			Twenty-six weeks ended
	July 30,		July 31,		July 30,		July 31,
($ in millions)	2022		2021		2022		2021
Sales by Channel
Stores	$	1,716	$	1,817	$	3,492	$	3,437
Direct-to-customers		349		458		748		991
Total sales	$	2,065	$	2,275	$	4,240	$	4,428