| Quarterly Summary |
Note S – Quarterly Summary (1)
(Unaudited)
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Twelve Weeks Ended |
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Sixteen Weeks
Ended |
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(in thousands, except per share data)
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November 19,
2016 |
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February 11,
2017 |
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May 6,
2017 |
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August 26,
2017(2) |
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Net sales
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$ |
2,467,845 |
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$ |
2,289,219 |
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$ |
2,619,007 |
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$ |
3,512,605 |
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Gross profit
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1,301,542 |
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1,205,536 |
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1,378,418 |
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1,854,125 |
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Operating profit
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458,902 |
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383,969 |
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529,570 |
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707,628 |
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Income before income taxes
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425,596 |
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349,771 |
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493,895 |
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656,227 |
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Net income(3)
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278,125 |
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237,145 |
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331,700 |
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433,899 |
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Basic earnings per share(3)
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9.61 |
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8.28 |
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11.70 |
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15.52 |
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Diluted earnings per share(3)
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9.36 |
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8.08 |
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11.44 |
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15.27 |
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Twelve Weeks Ended |
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Sixteen
Weeks Ended |
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(in thousands, except per share data)
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November 21,
2015 |
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February 13,
2016 |
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May 7,
2016 |
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August 27,
2016(2) |
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Net sales
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$ |
2,386,043 |
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$ |
2,257,192 |
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$ |
2,593,672 |
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$ |
3,398,769 |
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Gross profit
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1,252,934 |
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1,190,596 |
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1,370,458 |
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1,794,748 |
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Operating profit
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437,995 |
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382,660 |
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536,374 |
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703,366 |
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Income before income taxes
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402,985 |
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349,828 |
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502,323 |
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657,577 |
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Net income
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258,112 |
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228,613 |
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327,515 |
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426,768 |
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Basic earnings per share
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8.46 |
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7.58 |
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10.99 |
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14.58 |
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Diluted earnings per share
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8.29 |
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7.43 |
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10.77 |
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14.30 |
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| (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. |
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