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Quarterly Summary
 12 Months Ended
Aug. 26, 2017
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Summary

Note S – Quarterly Summary (1)

(Unaudited)

 

     Twelve Weeks Ended      Sixteen Weeks
Ended		  

(in thousands, except per share data)

    November 19,
2016		      February 11,
2017		      May 6,
2017		      August 26,
2017(2)		  

Net sales

    $ 2,467,845      $   2,289,219      $   2,619,007      $ 3,512,605  

Gross profit

      1,301,542        1,205,536        1,378,418        1,854,125  

Operating profit

      458,902        383,969        529,570        707,628  

Income before income taxes

      425,596        349,771        493,895        656,227  

Net income(3)

      278,125        237,145        331,700        433,899  

Basic earnings per share(3)

      9.61        8.28        11.70        15.52  

Diluted earnings per share(3)

      9.36        8.08        11.44        15.27  
     Twelve Weeks Ended      Sixteen
Weeks Ended		  

(in thousands, except per share data)

    November 21,
2015		      February 13,
2016		      May 7,
2016		      August 27,
2016(2)		  

Net sales

    $ 2,386,043      $   2,257,192      $   2,593,672      $ 3,398,769  

Gross profit

      1,252,934        1,190,596        1,370,458        1,794,748  

Operating profit

      437,995        382,660        536,374        703,366  

Income before income taxes

      402,985        349,828        502,323        657,577  

Net income

      258,112        228,613        327,515        426,768  

Basic earnings per share

      8.46        7.58        10.99        14.58  

Diluted earnings per share

      8.29        7.43        10.77        14.30  

 

(1) The sum of quarterly amounts may not equal the annual amounts reported due to rounding. In addition, the earnings per share amounts are computed independently for each quarter while the full year is based on the annual weighted average shares outstanding.
(2) The fourth quarter for fiscal 2017 and fiscal 2016 are based on a 16-week period. All other quarters presented are based on a 12-week period.
(3) As discussed in Note A, the Company adopted the new accounting guidance for shared-based payments on August 28, 2016. These amounts include the impact of the adoption. For the twelve week period ended November 19, 2016, this increased net income by $3.1 million, basic earnings per share by $0.11 and diluted earnings per share by $0.03. For the twelve week period ended February 11, 2017, this increased net income by $12.5 million, basic earnings per share by $0.43 and diluted earnings per share by $0.37. For the twelve week period ended May 6, 2017, this increased net income by $11.4 million, basic earnings per share by $0.40 and diluted earnings per share by $0.32. For the sixteen week period ended August 26, 2017, this increased net income by $4.1 million, basic earnings per share by $0.15 and diluted earnings per share by $0.09. Prior period net income, basic earnings per share and diluted earnings per share amounts were not restated.